MIPS Technologies Sells Off Patents, Acquired By Imagination Technologies

Sunnyvale-based processor developer MIPS Technologies said Monday that it has sold off both its patents, as well as the company itself, in two separate deals. MIPS said it has sold its patents to Bridge Crossing LLC, an acquisition vehicle of Allied Security Trust, in a deal worth $350M. Bridge Crossing will acquire 498 of MIPS' 580 patents. Separately, MIPS said it has been acquired by Imagination Technologies, which will acquire the operating business of MIPS plus the remaining, 82 patents, in a deal worth $60M.