MIPS for sale
MIPS is up for sale, according to Bloomberg. The 28 year-old RISC processor company is reported to have hired Goldman Sachs to find a buyer.
The company was founded in 1984 by a group from StanfordUniversity which included the university’s current president John Hennessy.
Silicon Graphics acquired MIPS in 1989 then sold it in 1998.
MIPS has found applications in telephone networks, TVs, STBs and home networks. It is used by Microchip as the core in its PIC 32 series of controllers.
Although founded six years before ARM, MIPS has failed to make much headway in mobile phones although, when the current CEO, Sandeep Vij, took over two years ago, he said getting MIPS into handsets was at the top of his agenda.
On the stock market MIPS is worth about $350m. It has cash of over $100m. It had revenues of $82m in 2011 for a $23m profit.
It is thought that Broadcom, which uses a lot of MIPS cores, could be a possible purchaser.