On Monday, MIPS Technologies (NASDAQ: MIPS) announced it has agreed to be acquired by Imagination Technologies Group for $100 million.
MIPS had previously agreed to a merger with Imagination for a lower price in a deal announced Nov. 5, but CEVA (CEVA 1.97%) subsequently trumped Imagination's offer with a Dec. 12 offer of $90 million. Imagination's response -- now accepted by MIPS in an amended merger agreement -- was to offer $7.94 per share, raising its bid to an even $100 million, and appears to have knocked CEVA out of the bidding.
MIPS shares closed at $7.81 per share Monday, up 0.5% on the news.
