NEW YORK — MIPS Technologies, which had been on the block for almost a year, finally found buyers in a complicated deal involving Imagination Technologies and ARM.
Imagination said Tuesday (Nov. 6) it has agreed to buy MIPS' operating business for $60 million. Under terms of the deal, the U.K. graphics IP vendor will gain 160 engineers and 82 MIPS patents.
The move is viewed as a way for Imagination to beef up its CPU core expertise while defending its graphics lead. It would also position Imagination to competing against ARM, which has been pursuing its integrated CPU-GPU solution strategy.
Separately, ARM said it will lead a consortium buying the rights to the MIPS portfolio of 498 patents. The consortium, called Bridge Crossing LLC, will pay $350 million in cash to purchase the rights to the portfolio, of which ARM will contribute $167.5 million.
To read more, go to ARM and Imagination divvy up MIPS