GlobalFoundries has concluded a definitive acquisition agreement with MIPS, a leading provider of semiconductor intellectual property (IP), with the deal anticipated to close in the second half of 2025. MIPS will continue to operate independently under the new arrangement. This strategic acquisition grants GlobalFoundries access to MIPS' extensive IP portfolio, paving the way for its evolution into an Integrated Device Manufacturer (IDM) model. Through this acquisition, GlobalFoundries aims to enhance its customizable IP offerings, introducing RISC-V architecture processor IP and software tools tailored to the needs of autonomous mobile systems, industrial automation, data centers, smart edge applications, and beyond. According to GlobalFoundries, this move will empower customers to develop more efficient and high-performance products, thereby fostering technological advancements in automotive, industrial, and data center infrastructure sectors.