Imagination Technologies completes acquisition of MIPS Tech

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.

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"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