MIPS Goes To Imagination Technologies

Sunnyvale-based processor firm MIPS is being sold to Imagination Technologies, after Imagination outbid Ceva for MIPS. Imagination Technologies agreed to pay $100M for MIPS, up significantly from its original offer of $60M for the company; Ceva had bid $90M for MIPS last month, but said this morning that it was abandoning its plans to acquire the processor company.