11th Dec 2012 13:20
11 December 2012
Imagination Technologies Group plc
Acquisition of MIPS Technologies Inc.
Imagination Technologies Group plc (LSE: IMG, "Imagination") notes the announcement from CEVA, Inc. earlier today that it has submitted a further proposal to the Board of Directors of MIPS Technologies, Inc. ("MIPS") to acquire the operating business of MIPS for $90 million plus the payment on MIPS' behalf of the termination fee to Imagination pursuant to the existing merger agreement between Imagination and MIPS.
Imagination is monitoring the situation and will provide a further update in due course.
Enquiries
Imagination Technologies Group PLC | Tel: +44 (0)1923 260 511 |
Hossein Yassaie, CEO | |
Richard Smith, CFO | |
College Hill | Tel: +44 (0)20 7457 2020 |
Adrian Duffield/Kay Larsen | |
Jefferies International Limited (Financial Advisor to Imagination) | Tel: +44 (0)20 7029 8000 |
Nick Adams / Daniel Aharoni / Jeffrey Snyder |
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