LONDON Dec 10 British microprocessing firm
Imagination Technologies has increased its offer to
acquire the operating business of MIPS Technologies to
$80 million after a rival firm topped its bid.
Mobile chip designer CEVA made a $75 million bid
for MIPS in November, outweighing Imagination's $60 million
original offer in November.
Imagination said on Monday it had signed a higher revised
agreement in response.
Imagination, which is looking to buy the MIPS business to
gain patents and step up its challenge to an increasingly
dominant ARM Holdings, said that it still expects the
transaction to complete in the first three months of 2013.
It said that all other material terms and conditions of the
acquisition remain as stated in the original announcement on 6
November, which means it will seek to acquire the operating
business, some patent properties and licence rights to other
U.S.-listed MIPS' technology is in blu-ray players, digital
televisions and video games consoles such as the Sony
Imagination said in its original announcement that it
anticipates the acquisition to add to earnings in the 2014