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CEVA, Inc.
CEVA, the leading licensor of silicon intellectual property (SIP) platform
solutions and DSP cores for the mobile, portable and consumer electronic
markets, announced today that it would not submit any further proposal to
acquire the operating business of MIPS Technologies, Inc.
MIPS.
Gideon Wertheizer, CEO of CEVA, commented: "While CEVA's Board of Directors
and management believed there was strategic merit in the combination of CEVA
with MIPS, further increasing the purchase price would not meet our financial
objectives. We believe it is in the best interests of our shareholders that
our available cash be reserved for other potential opportunities in the
future. As part of our corporate business strategy, we will continue to seek
and evaluate complementary technologies and businesses that will meet our
strategic and financial objectives."
CEVA's dominant leadership position in DSP licensing has enabled the company
to strategically expand its addressable markets in recent years to leverage on
the major trends in DSP processing. Today, the company offers a comprehensive
portfolio of DSPs and platform IP for communications & connectivity, audio &
voice and imaging & vision, all of which offer CEVA's customers significant
cost efficiencies and time-to-market savings for next generation products.
With more than 40% market share worldwide today in the cellular baseband
market, CEVA's market leadership is set to carry forward into the LTE, and
LTE-Advanced markets, with more than 20 design wins secured to date.
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