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

Harris

Featured Video
Jobs
GIS Specialist for Metro Wastewater Reclamation District at Denver, Colorado
Upcoming Events
SUE Association at Capitol Skyline Hotel 10 “I” Eye Street, SW Washington, DC - Jul 26, 2018
2018 ENVI Analytics Symposium at The Brown Palace Hotel & Spa Denver CO - Aug 21 - 23, 2018
2018 South Florida GIS Expo at 650 Okeechobee Blvd West Palm Beach FL - Aug 23 - 24, 2018
SPTechCon 2018 at Sheraton Boston Hotel Boston MA - Aug 26 - 29, 2018
Canon: oce crystalPoint
Teledyne Optech
Teledyne:
Interdrone 2018



Internet Business Systems © 2018 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 EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise