updated 9/28/2010 9:15:58 AM ET 2010-09-28T13:15:58

SUNNYVALE, Calif., Sept. 28, 2010 (GLOBE NEWSWIRE) -- MIPS Technologies, Inc. (Nasdaq:MIPS), a leading provider of industry-standard processor architectures and cores for digital consumer, home networking, wireless, communications and business applications, announced today that long-time MIPS customer PMC-Sierra (Nasdaq:PMCS) is licensing a broad range of MIPS32® processor cores. The cores offer an extensive range of options—from small-footprint to multi-threaded multicore solutions—for next generation designs. PMC-Sierra will use the cores to power chips for an array of applications.

Included in the agreement are MIPS32 cores including the 4KEm™ Pro, 24Kc™ Pro, 34Kc™ Pro, 74Kc™ and 1004Kc™ cores as well as the MIPS® SOC-it L2 Cache Controller. The new agreement also includes the new MIPS32 M14K™ and M14Kc™ cores that execute the microMIPS™ instruction set architecture (ISA) for an advanced level of code compression.

"MIPS provides the high performance, low power, and scalability needed for many storage and networking applications, together with a broad ecosystem of third party support. MIPS Technologies' multi-threading capability also enables us to develop the higher performance, lower power solutions our customers require," said Tom Snodgrass, vice president of product development, Enterprise Storage Division, PMC-Sierra.

An example of the benefits of multi-threading in PMC-Sierra products is the company's new maxRAID™ architecture that reportedly produces performance far beyond other current market solutions for RAID and server storage. The extendible architecture features three multi-threaded MIPS32 34K™ cores.

"PMC-Sierra is leveraging the strengths of MIPS' entire line of processor cores to provide optimal application-specific solutions to its customers," said Art Swift, vice president of marketing, MIPS Technologies. "Through PMC-Sierra, the MIPS architecture is making strong inroads into the networked and server storage market and other burgeoning markets. Our long-time, close relationship with PMC-Sierra has resulted in some of the industry's most innovative solutions for these markets, and we are excited to see where the company takes MIPS in its next-generation products."

About PMC-Sierra

PMC-Sierra®, the premier Internet infrastructure semiconductor solution provider, offers its customers technical and sales support worldwide through a network of offices in North America, Europe, Israel and Asia. PMC-Sierra provides semiconductor solutions for Enterprise and Channel Storage, Wide Area Network Infrastructure, Fiber To The Home, and Laser Printer/Enterprise market segments. The Company is publicly traded on the NASDAQ Stock Market under the PMCS symbol. For more information, visit www.pmc-sierra.com .

About MIPS Technologies, Inc.

MIPS Technologies, Inc. (Nasdaq:MIPS) is a leading provider of industry-standard processor architectures and cores that power some of the world's most popular products for the home entertainment, communications, networking and portable multimedia markets. These include broadband devices from Linksys, DTVs and digital consumer devices from Sony, DVD recordable devices from Pioneer, digital set-top boxes from Motorola, network routers from Cisco, 32-bit microcontrollers from Microchip Technology and laser printers from Hewlett-Packard. Founded in 1998, MIPS Technologies is headquartered in Sunnyvale, California, with offices worldwide. For more information, contact (408) 530-5000 or visit www.mips.com .

MIPS, MIPS32, microMIPS, 4KEm, 24Kc, 34Kc, 34K, 74Kc, 1004Kc, M14K, M14Kc and MIPS-Based are trademarks or registered trademarks in the United States and other countries of MIPS Technologies, Inc. PMC and PMC-SIERRA are registered trademarks of PMC-Sierra, Inc. in the United States and other countries, PMCS and "Enabling connectivity. Empowering people." are trademarks of PMC-Sierra, Inc. All other trademarks referred to herein are the property of their respective owners.

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