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 purchase 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.
MIPS Technologies, Inc. (MIPS) is a provider of industry-standard processor architectures and cores for digital home, networking and mobile applications. Shares of MIPS fell by 0.07% or $-0.005/share to $7.52. In the past year, the shares have traded as low as $3.91 and as high as $7.65. On average, 1334890 shares of MIPS exchange hands on a given day and today's volume is recorded at 458687.
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