German RISC-V chip developer Codasip has put itself up for sale.

The company said the decision was made following expressions of interest to purchase the company during a recent funding round.

The sale process launched on July 1, and Codasip expects to conclude any deal within the next three months.

The company’s board of directors has said it will consider offers to acquire the company in total, or portions of the company, which sits across four key product areas – its Studio EDA tool, two portfolios of RISC-V processors, and a portfolio of high-performance application processors.

Codasip, which currently employs 250 people, 57 percent of whom are hardware engineers and 30 percent software engineers, said the four product areas all have “separable R&D teams.”

It added that the company has been awarded “several grants and equity funding from various bodies of the European Union and national authorities totaling over €119 million ($140m), most of which is still to be received by the company in due course.”

Codasip said it expects the second phase of these grants will provide a further €210 million ($247m), with the company also involved in “new consortiums [consortia] and projects that can bring in an additional €51 million ($60m) or more in future financing.”

Interested parties can contact Codasip’s legal department, the company said in a statement.

First released in 2010, RISC-V is an open standard instruction set (ISA) architecture based on established RISC principles, which is provided under open source licenses that do not require fees.

In 2022, RISC-V International, the non-profit organization that manages the ISA, claimed there were 10 billion chips based on its ISA in circulation around the world, and predicted that number would climb to 25 billion by 2027.