Mountain View, CA — MIPS Technologies, Inc., a subsidiary of Silicon Graphics, Inc. announced the filing of a registration statement with the Securities and Exchange Commission for an initial public offering of approximately 17 percent of its outstanding common stock. The shares will be sold by MIPS and Silicon Graphics.
The number of shares to be sold to the public and the price per share have not yet been set. The public offering is currently expected to close in June 1998. The offering is being managed by an underwriting group led by Deutsche Morgan Grenfell, BankAmerica Robertson Stephens and Hambrecht & Quist.
MIPS Technologies, Inc. designs and licenses high-performance, cost-effective RISC microprocessors and related intellectual property for the digital consumer and embedded markets. MIPS designs are licensed to leading semiconductor suppliers for use in products ranging from video game systems to set-top boxes and handheld computing devices.
Silicon Graphics will retain a majority stake in MIPS Technologies after the initial public offering and will continue the development of MIPS microprocessors for the Silicon Graphics platform as part of the Silicon Graphics computer systems organization.