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MIPS Computer Systems Inc. was founded in 1984 by a group of researchers from Stanford University that included John L. Hennessy , as a vendor of microprocessor chips. MIPS made its first IPO (after that it was acquired by SGI, spun-off, then IPOed again in 1998) on Nasdaq in November 1989. After being successful in the chip market with the R2000 and '''R3000''' devices, a management change brought along the larger dreams of being a computer vendor. The company found itself unable to compete in the computer market against much larger companies and was struggling to support the costs of developing both the chips and the systems ( MIPS Magnum ). In order to secure the supply of future generations of MIPS microprocessors (the 64bit '''R4000'''), SGI acquired the company in 1992 and ran it as MIPS Technologies Inc. (MTI), a wholly owned subsidiary of SGI. After SGI decided to migrate to the Itanium architecture in the mid- 1990s , it was decided to spin out MTI as an intellectual property licensing company offering licences to the MIPS architecture as well as microprocessor core designs. MTI made an Initial Public Offering on June 30 1998 , i.e. it was no longer wholly owned by SGI since the IPO. SGI spun it off completely on June 20 2000 by distributing all its interest as stock dividend to the stock holders. Shares of the company are publicly traded on Nasdaq with the symbols MIPS . COMPANY TIMELINE
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