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AI chip firm Wave Computing emerges from Chapter 11 bankruptcy protection

2 Min Read
OAKLAND, Calif. (Reuters) - Artificial intelligence chip designer Wave Computing Inc said on Monday it has emerged from Chapter 11 bankruptcy protection following an auction of the company and will rebrand the firm as MIPS.
The company traces its origins back to MIPS Computer Systems Inc, cofounded more than 35 years ago by Stanford University professor John Hennessy, who is now chairman of Alphabet Inc. MIPS was the commercial home of an earlier academic effort to create an architecture for computer processors that remain in wide use today by firms such as Intel Corp’s Mobileye self-driving car unit.
Wave Computing filed for bankruptcy in April. It was revealed by bankruptcy filings and Reuters reporting that in late 2018 and 2019, the company licensed its core computing architecture for use in China, Hong Kong and Macau to a Shanghai-based firm, CIP United Co Ltd, in a complex series of transactions. The transactions occurred just as a chip war was escal ....

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AI chip firm Wave Computing emerges from Chapter 11 bankruptcy protection

AI chip firm Wave Computing emerges from Chapter 11 bankruptcy protection
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

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GT Newsletter | Competition Currents | January 2021 | Insights

1.
FTC approves Otto Bock HealthCare North America, Inc.’s application to divest assets in prosthetic knee merger.
On Dec. 1, 2020, the FTC announced its approval of an application by prosthetics manufacturer Otto Bock HealthCare North America Inc. to divest certain assets it acquired when it consummated its acquisition of FIH Group Holdings LLC (Freedom Innovations), including all microprocessor prosthetic knee (MPK) products and technology.
Otto Bock completed its acquisition of Freedom Innovations in September 2017, and FTC filed an administrative complaint in December of that year. In November 2019, upholding an administrative law judge’s decision, the FTC unanimously found that the merger was anticompetitive, and it issued the final order requiring Otto Bock to divest the Freedom Innovations business, with limited exceptions. The Commission vote to approve the application was 5-0. ....

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