UPDATE 1-SiRF says US customs oks 'redesigned' GPS chip import

lunedì 1 giugno 2009 20:40
 

* Customs find redesigned chips fall outside ITC exclusion

* SiRF shares up 14 pct

June 1 (Reuters) - SiRF Technology Holdings Inc SIRF.O said the U.S. Customs and Border Protection determined that its redesigned global positioning system chips fall outside an exclusion order issued by the U.S. International Trade Commission, sending its shares up as much as 14 percent.

The customs will allow the approved redesigned SiRF products, and products that contain the SiRF chips, to be imported for consumption and sale in the United States, the company said in a filing with the U.S. Securities and Exchange Commission.

In January, ITC ruled SiRF infringed on three of chipmaker Broadcom's (BRCM.O: Quotazione) patents for GPS, and had also issued an exclusion order barring imports of the company's infringing GPS chips and products containing the chips. [ID:nN15382670]

In February, British Bluetooth wireless chip company CSR Plc CSR.L had agreed to buy SiRF in a $136 million, all-share deal. SiRF, in its earnings conference call on May 5, had said it expects to complete the deal in the second quarter.

Shares of SiRF touched a high of $4.54 earlier but pared some gains and were up about 11 percent at $4.40 in afternoon trade on Nasdaq. (Reporting by Bijoy Koyitty in Bangalore; Editing by Deepak Kannan)