MIPS Signs $26.5 Million Patent, Tech License Accord With Broadcom

Date : 07/03/2012 @ 10:40AM
Source : Dow Jones News
Stock : Broadcom Corp. (BRCM)
Quote : 54.67  0.0 (0.00%) @ 2:05AM
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MIPS Signs $26.5 Million Patent, Tech License Accord With Broadcom

Mips Technologies, Inc. (MM) (NASDAQ:MIPS)
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   By Saabira Chaudhuri 

MIPS Technologies Inc. (MIPS) said it signed a $26.5 million agreement that allows Broadcom Corp. (BRCM) to license its patents.

Additionally, Broadcom--a semiconductor technology provider and MIPS' largest customer--has extended its license of the company's architecture and core licenses.

MIPS, which licenses semiconductor architecture to chip designers, has struggled in recent months. The electronics-components designer has seen declining revenue and earnings since June of last year. It reported in April that it had swung to a third-quarter loss on lower revenue from royalties, licensing and contracts coupled with higher costs.

Also in April, Bloomberg News reported that MIPS had hired Goldman Sachs Group Inc. (GS) to find a buyer. Bloomberg reported that a ThinkEquity LLC analyst had said Broadcom could potentially look to buy MIPS in order to acquire the ability to make more powerful processors.

The company's stock was up 1.8% to $6.84 in recent trading. MIPS's shares are up 54% year-to-date.

Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com

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