Reuters – Imagination Technologies Agrees to Pay $100M for MIPS


British chip designer Imagination Technologies on Monday agreed to buy MIPS for $100 million after it outbid Ceva Inc. for a second time, Reuters reported. Imagination and Ceva have been battling to buy the operating business of MIPS since last month when a $60 million agreed offer from the British company triggered a bidding war. Imagination’s $100 million offer trumps a $90 million bid from Ceva last week. MIPS was a pioneer of 32-bit and 64-bit processing, and its technology is in blu-ray players, digital televisions and video games consoles such as the Sony PlayStation 2.

(Reuters) – British chip designer Imagination Technologies on Monday agreed to buy MIPS for $100 million after it outbid Ceva Inc for a second time.

Imagination and Ceva have been battling to buy the operating business of MIPS since last month when a $60 million agreed offer from the British company triggered a bidding war.

Imagination’s $100 million offer trumps a $90 million bid from Ceva last week.

MIPS was a pioneer of 32-bit and 64-bit processing, and its technology is in blu-ray players, digital televisions and video games consoles such as the Sony PlayStation 2.

The California-based company agreed to sell 498 patents for $350 million to a consortium of technology companies organized by patent holding company Allied Security Trust and led by ARM when it agreed the initial Imagination deal.

(Reporting by Paul Sandle; editing by James Davey)

Take your pick!

  • Buyouts delivers exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more. Get your FREE trial or subscribe now.
  • VC Journal provides exclusive news and analysis about venture capital deals, fundraising, top-quartile investors and more. Get your FREE trial or subscribe now

Sign up to our Newsletter

Receive updates from our PE HUB Wire and Top Stories of the Week newsletters:

We will not send you spam, and we don't share your email address with 3rd parties.