Imagination Technologies Group plc - Acquisition of MIPS Technologies Inc.

November 21, 2012 -- Imagination Technologies Group plc (LSE: IMG, "Imagination"), has become aware that MIPS Technologies Inc., has received an unsolicited proposal from CEVA, Inc. to acquire all of the outstanding MIPS shares, following the consummation of the proposed patent sale transaction with Bridge Crossing, LLC and the proposed recapitalization. MIPS has made a formal announcement on this subject.

Imagination understands that the MIPS Board of Directors continues to recommend the merger agreement with Imagination to its shareholders.

Imagination is monitoring the situation and will provide a further update in due course.