Imagination Technologies: Acquisition of MIPS Technologies completed

February 08, 2013 -- Imagination Technologies Group plc (LSE: IMG, "Imagination") has completed the acquisition of the operating business and certain patent properties of MIPS Technologies, Inc. (Nasdaq: MIPS, "MIPS") as well as license rights to all of the remaining patent properties.

MIPS is a leading provider of CPU (central processing unit) architectures and IP cores.

The cash consideration of US$100 million was paid on completion, financed from Imagination’s existing cash resources and a new acquisition facility.

At the MIPS Stockholder Meeting held on 6 February 2013, MIPS stockholders voted by the requisite majority on all proposals to enable the acquisition to complete.

Imagination has now commenced implementation of its detailed integration programme. Further details on this will be provided in the Interim Management Statement in March.

Hossein Yassaie, Group Chief Executive, Imagination, said:
"We are delighted to have completed this acquisition, which has been welcomed by both companies' customers and the electronics industry at large, and also to welcome our MIPS colleagues to the Imagination family.

“The combination of MIPS' capabilities with our existing Meta CPU technologies will accelerate our growth in the substantial CPU IP market across many segments."


Contacts:

Imagination Technologies Group PLC
Sir Hossein Yassaie, CEO
Richard Smith, CFO
Tel: +44 (0)1923 260 511

College Hill
Adrian Duffield/Kay Larsen 
Tel: +44 (0)20 7457 2020

Jefferies International Limited 
(Financial Advisor to Imagination)
Nick Adams / Daniel Aharoni / Jeffrey Snyder
Tel: +44 (0)20 7029 8000 




Review Article Be the first to review this article
CST: Webinar

Aldec Simulator Evaluate Now

Featured Video
Jobs
Senior Formal FAE Location OPEN for EDA Careers at San Jose or Anywhere, CA
Principal PIC Hardware Controls Engineer for Infinera Corp at Sunnyvale, CA
Senior DSP Firmware Engineer for Cirrus Logic, Inc. at Austin, TX
Design Verification Engineer for intersil at Morrisville, NC
Senior PIC Test Development Engineer for Infinera Corp at Sunnyvale, CA
Upcoming Events
Essentials of Electronic Technology: A Crash Course at Columbia MD - Jan 16 - 18, 2018
Essentials of Digital Technology at MD - Feb 13 - 14, 2018
IPC APEX EXPO 2018 at San Diego Convention Center San Diego CA - Feb 24 - 1, 2018
CST: Webinar series



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise