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