CEVA, Inc. (CEVA) Monday said it would not submit any further proposal to acquire the operating business of MIPS Technologies, Inc (MIPS).
"While CEVA's Board 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, " said CEO Gideon Wertheizer.
The company intends to reserve its available cash be reserved for other potential opportunities in the future.
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