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GlobalFoundries has announced today that it has finalized an agreement to acquire MIPS. MIPS, with a storied history under Wave Computing, Imagination Technologies, and Silicon Graphics, has recently refocused its efforts on RISC-V core designs rather than its traditional CPU architecture. The acquisition is anticipated to conclude by the end of this year, subject to regulatory approvals. Following the acquisition, MIPS will continue to operate as a standalone business unit within GlobalFoundries.
GlobalFoundries' Chief Operating Officer remarked that this acquisition will bolster the company's competitiveness in autonomous mobility, industrial automation, and data centers, particularly by expanding its RISC-V processor IP portfolio. Upon the announcement, GlobalFoundries' share price surged, indicating the market's favorable reception to this strategic move.
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