The sale was part of the acquisition of 100% of the shares in Chipidea by MIPS for $147m in cash plus an additional performance-based payment of up to 610,687 MIPS common shares. Kennet invested in Chipidea in May 2005 when it led a €12 million financing of the business. Within the last five years, Chipidea has grown its customer base from 20 to more than 150 – including 13 of the world’s top 15 semiconductor companies. Kennet was Chipidea’s first international institutional investor. In addition, the May 2005 financing blended both new capital for business expansion and the purchase of equity from existing shareholders — another Kennet hallmark.
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