Imagination, a key supplier of Apple chip technology, will buy MIPS, one of the oldest names in the silicon business.
U.K.-based Imagination Technologies, a major supplier of graphics chips, will buy the operating business of MIPS Technologies, a vendor of power-efficient chips used in routers, set-top boxes, and game machines.
With the deal, valued at $60 million, Imagination will get 82 "key" patents that are "directly relevant to the MIPS architecture" and comprehensive license rights to all of the remaining 498 MIPS' patents, for a total of 580 patents.
Imagination, known primarily as a graphics processing unit (GPU) supplier, will gain access to MIPS central processing unit (CPU) technology, allowing it to take on ARM, the world leader in smartphone CPUs.
"MIPS is the company that pioneered the RISC CPU architecture," Imagination CEO Hossein Yassaie said in a statement. "I believe that the combination of our existing...CPU technologies...with MIPS' capabilities will help us to create a new force to be reckoned with in the CPU IP market," he added.
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