Synopsys Acquires MIPS Unit For $22M In Cash

MOUNTAIN VIEW, Calif. (AP) — Synopsys Inc., which makes software to develop and test chips, on Friday said it bought a business unit of chipmaker MIPS Technologies Inc. for $22 million in cash.

Synopsys said it acquired MIPS Technologies' analog business group, which adds to its portfolio of processor architectures for items including analog-to-digital converters, digital-to-analog converters and audio codecs. The company said in a statement that the acquisition will help its customers get products to market faster.

MIPS Technologies is also based in Mountain View.

Shares of Synopsys slipped 9 cents to $20.79 while MIPS Technologies' stock added 22 cents, or 6.3 percent, to $3.73 in afternoon trading.