Executive Summary

This is the story of a small company that recognized the value of a very fundamental idea: People need to know where they and their loved ones are, where they’re going, and what they will find when they arrive. From its origins in a humble San Jose office park a little more than 10 years ago, this company, SiRF Technology, has grown into the dominant player in the worldwide market for “location awareness” technologies. Using SiRF’s Global Positioning System (GPS) chipsets, subsystems and software, companies such as GM and Motorola enable consumers to not only pinpoint their precise location, but also orient themselves to where they want to go. Be it a hiker lost in the back country, a city dweller searching for a great Italian restaurant using his cell phone Yellow Pages, or a police officer tracking a fleeing car thief through the car’s GPS anti-theft system, SiRF’s end customers can now access all types of location data to make their journey safer and easier.

By focusing its energies on the needs of these consumers – rather than only on the traditional military and professional users of GPS –SiRF has grown almost exponentially from those early start-up days. Today, with a successful IPO, half a dozen acquisitions, and a roster of blue-chip customers under its belt, SiRF owns the coveted “gorilla” position in a market that is poised for massive growth in the second half of this decade.

In fact, with revenue topping $165M in 2005 and growing 98% from Q4 2004 to Q4 2005, SiRF in 2006 is hitting its stride just as manufacturers and telecom operators are waking up to the potential of location-based services in a startling array of consumer devices, including in-dash navigation systems, data-rich mobile phones, personal digital assistants (PDAs), GPS-based peripherals and handheld GPS navigation devices.