Imagination Technologies is a British company that designs computer chips for various uses. The company has been in a bit of a bidding war with another company called Ceva in an attempt to purchase what's left of MIPS. The two firms have been a bidding war over MIPS for about a month now.
Previously Imagination Technologies bid $60 million for MIPS. CEVA came back with a counterbid of $90 million last week. Imagination Technologies has now upped its bid to the tune of $100 million. MIPS may not be a company you are familiar with, but it was a pioneer in 32-bit and 64-bit processing.
Technology from the company is found in a number of Blu-ray players, digital televisions, and game consoles such as the Sony PS2. The current bidding war between Imagination Technologies and CEVA is for the operating business that MIPS still holds. MIPS is based in California and previously agreed to sell its 498 patents for $350 million.
Those patents were purchased by a consortium of tech companies organized by Allied Security Trust and led by ARM. At this point there is no word of if CEVA will come back and up Imagination Technologies latest bid for what's left of MIPS.