MIPS Technologies, a provider of industry-standard processor architectures and cores, will acquire privately-held Chipidea Microelectronica, an independent Portugal based supplier of analog and mixed signal intellectual property. MIPS will pay an aggregate of $147 million in cash, with an additional performance-based milestone payment of 610,687 shares of MIPS' common stock in 2009. Chipidea will become a newly-formed business group within MIPS, with its complete product portfolio continuing to be sold under the Chipidea brand. Jose Franca will assume the role of president and general manager for the new business group and has been appointed a member of the board of directors for MIPS.

Chipidea was founded in February 1997 by 3 Professors of the Electronics and Computer Engineering Department of the Technical University of Lisbon. The company has more than 310 employees worldwide, including design centers in Portugal, France, Belgium, Poland, China, Norway, and Macau. For the trailing four quarters, the revenue recorded was $32.8 million. MIPS announced a revenue of $83.3 million in 2007 with a net income of $8.5 million.