Nike Close To Sale of Cole Haan, ARM In Buyout Consortium: Merger and Acquisitions Recap
Nike (NYSE:NKE) is said to be close to a deal through which to divest its Cole Haan fashion brand to Apax Partners for a price of $500 million, with an official announcement possible next week. Such a sale would follow an agreement in October for Nike to sell Umbro to the Iconix Brand Group for $225 million as the company wishes to concentrate upon its core Nike business.
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ARM Holdings (NASDAQ:ARMH) has joined the Bridge Crossing consortium which will purchase the rights to a patent portfolio owned by MIPS Technologies (NASDAQ:MIPS) for $350 million. The former’s contribution to the acquisition will be $167.5 million. Additionally, the GPU core developer Imagination Tech (IGNMF.PK) is purchasing the CPU core licensing division of MIPS and 82 patents for $60 million. The portfolio that ARM bought includes 580 patents and patent applications which cover microprocessor and system-on-chip designs along with related technology.
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