Imagination Technologies Group has completed the acquisition of the operating business and certain patent properties of MIPS Technologies, a provider of architectures and IP cores.
The cash consideration of $100m was paid on completion, financed from Imagination's existing cash resources and a new acquisition facility.
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.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"The combination of MIPS' capabilities with our existing Meta CPU technologies will accelerate our growth in the substantial CPU IP market across many segments."
NR
-
The new 4% rule – how much should retirees really draw from their pension in 2026?Brits retiring in 2026 could be withdrawing too much from their pension pots if they stick to an old rule about ‘safe’ limits – with the risk of running out of money in retirement
-
Leaving it too late to gift inheritances costs some of Britain’s wealthiest families £3m eachEven average Brits are being landed with huge and unexpected inheritance tax bills because of a little understood rule around gifting, new figures show
