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Imagination buys MIPS for $60 million

Posted on Tuesday, November 06 2012 @ 20:05:17 CET by

Imagination Technologies logo
Reuters reports Imagination Technologies has acquired the operating business of MIPS Technologies for $60 million in an attempt to step up the competition with ARM. Under the deal, Imagination will gain 160 engineers and 82 patents, a well as a license for a further 498 patents being sold by MIPS for $350 million to a consortium of tech firms, which includes ARM.
Imagination, whose graphics technology is in Apple's iPhone, said on Tuesday it would gain 160 engineers and 82 patents to make it a stronger player in CPUs, the central processors in devices like routers, modems and games consoles.

It will also get a licence for a further 498 patents being sold by California-based MIPS for $350 million to a consortium of technology companies organised by patent holding company Allied Security Trust and led by ARM.

"The combined business should be able to create a new industry-leading force in CPUs, and essentially will provide choice and an alternative to our good friends in Cambridge," Imagination chief executive Hossein Yassaie told Reuters, referring to ARM.



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