News
 

Bookmark and Share

(0) 

Imagination Technologies Group on Monday signed a revised agreement to acquire the operating business and certain patent properties, as well as license rights to all of the remaining patent properties, of MIPS Technologies for a cash consideration of $100 million, to be financed from existing cash resources and a new acquisition facility that has already been set up.

The revised offer has been made in response to an increased offer made to MIPS by Ceva to acquire the same assets. For Imagination, which licenses multimedia processing solutions as well as graphics processing solutions, MIPS will be a door to a brand new business: microprocessor technologies. Therefore, ImgTec increased the amount it wants to pay MIPS from $60 million to $100 million as a result of competition from Ceva, which wants the same assets.

In the 12 months to 30 June 2012 the MIPS processor licensing business generated $60 million in revenue and a loss before tax of c.US$9 million. MIPS' licensing business had gross assets of $20 million at 30 September 2012.

Considering the strategic nature of the investment for Imagination, it looks like the company will continue to increase its offered price to get its hands on MIPS, even considering the fact that $100 million seems to be somewhat overprices offering.

 

Tags: Ceva, ARM, MIPS, PowerVR, Imagination, Imagination Technologies

Discussion

Comments currently: 0

Add your Comment




Related news

Latest News

Wednesday, October 8, 2014

8:52 pm | Lisa Su Appointed as New CEO of Advanced Micro Devices. Rory Read Steps Down, Lisa Su Becomes New CEO of AMD

Thursday, August 28, 2014

12:22 pm | AMD Has No Plans to Reconsider Recommended Prices of Radeon R9 Graphics Cards. AMD Will Not Lower Recommended Prices of Radeon R9 Graphics Solutions

Wednesday, August 27, 2014

9:09 pm | Samsung Begins to Produce 2.13GHz 64GB DDR4 Memory Modules. Samsung Uses TSV DRAMs for 64GB DDR4 RDIMMs

Tuesday, August 26, 2014

6:41 pm | AMD Quietly Reveals Third Iteration of GCN Architecture with Tonga GPU. AMD Unleashes Radeon R9 285 Graphics Cards, Tonga GPU, GCN 1.2 Architecture

Monday, August 25, 2014

6:05 pm | Chinese Inspur to Sell Mission-Critical Servers with AMD Software, Power 8 Processors. IBM to Enter Chinese Big Data Market with the Help from Inspur