Imagination Technologies is the UK’s microprocessor firm. It has upped the previous offer for acquiring MIPS Technologies- chip designer business along with the swathe of patents related with MIPS architecture and royalty free licensing rights with their patents, from last month’s offer $60 million to $80 million now. The $60 million bid was became obsolete with the rivalry offer of CEVA semiconductor group that tabled $75 million cash offer for the MIP’s assets.
The Imagination Technologies Group Plc has announced in the press release that they have signed a revised contract with MIPS technologies for buying their operating business along with certain patent properties and licensing rights of the left over patent properties. Imagination Technologies has made the $80 million cash offer to be financed from the current cash resources.
Imagination Technologies has noted revision in the offering due to the response of CEVA bid. They have further added that all the other T&Cs material of the acquisition will remain as it was in the earlier offer of November 6, 2012.
Imagination Technologies counts Apple among its share holders and explained that they are expecting the deal competition by the first quarter of 2013.
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