Imagination Tech.PLC IMG Acquisition of MIPS Technologies Inc.

  Imagination Tech.PLC (IMG) - Acquisition of MIPS Technologies Inc.

RNS Number : 6566R
Imagination Technologies Group PLC
21 November 2012




21 November 2012



Imagination Technologies Group plc



Acquisition of MIPS Technologies Inc.



Imagination Technologies Group plc (LSE: IMG, "Imagination") has become aware
that MIPS Technologies Inc., has received an unsolicited proposal from CEVA,
Inc. to acquire all of the outstanding MIPS shares, following the consummation
of the proposed patent sale transaction with Bridge Crossing, LLC and the
proposed recapitalization. MIPS has made a formal announcement on this
subject.



Imagination understands that the MIPS Board of Directors continues to
recommend the merger agreement with Imagination to its shareholders.



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







                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


ACQKMMZMVMNGZZG -0- Nov/21/2012 07:01 GMT
 
Press spacebar to pause and continue. Press esc to stop.