MIPS and Broadcom Sign Patent and Technology License Agreement

SUNNYVALE, Calif. — MIPS Technologies, Inc. (Nasdaq:MIPS), a leading provider of industry-standard processor architectures and cores for home entertainment, networking, mobile and embedded applications, announced that it has entered into a multi-faceted patent and technology license agreement with Broadcom Corporation (NASDAQ: BRCM), a global innovation leader in semiconductor solutions for wired and wireless communications.

For $26.5 million plus other consideration, Broadcom has been granted a non-exclusive worldwide license, under patents owned or licensable by MIPS, for the purpose of making, having made, using, selling, offering for sale, and importing Broadcom products. Additionally, Broadcom has been granted a multi-year license extension to its current MIPS® architecture and core licenses for MIPS-Based™ products, plus other consideration. MIPS Technologies has filed an 8K about the agreement with the Securities and Exchange Commission.

“This agreement demonstrates the strength and value of our patent portfolio. In addition, we are pleased that Broadcom, MIPS’ largest customer, has extended its license of MIPS’ architectures and cores,” said Sandeep Vij, chief executive officer, MIPS Technologies.