GlobalFoundries (GFS), a manufacturer of essential semiconductors, on Tuesday announced a definitive agreement to acquire MIPS, a supplier of AI and processor IP. The financial terms of the deal were not disclosed.
The acquisition of MIPS is expected to be completed in the second half of 2025, subject to the satisfaction of customary closing conditions, including the receipt of required regulatory approvals.
Following the deal closure, MIPS will continue to operate as a standalone business within GF and serve its customers across a broad range of technologies.
The company expects the strategic acquisition to expand its portfolio of customizable IP offerings, allowing it to further differentiate its process technologies with IP and software capabilities.
Sameer Wasson, CEO of MIPS, said, "Becoming part of GlobalFoundries marks the start of a bold new chapter for MIPS. GFs proven track record in delivering differentiated technologies through a secure, global manufacturing footprint will enhance our ability to accelerate innovation and scale our solutionsunlocking new opportunities in the Physical AI space and driving even greater value for our customers."
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