Answer submitted by ToddN2000:
“Not knowing where you got the file, it could be a number of different ones used by different applications.
An IPS file could be a patch (or update) for a common game ROM that can contain graphics, models, and other data; used mainly for small patches less than 16MB in size; can be modified and applied to games using various IPS software utilities.
International Patching System (Binary Patch File)
The International Patching System (commonly called IPS) is an old file format that became a standard to patching various files near 16 megabytes in size with an unlimited amount of 1-65,535 byte clusters and RLE. The identifying characters used for this association are – Hex: 50 41 54 43 48, ASCII: PATCH Related links: Wikipedia IPS Page
Play with QuickTime, Internet Pictures Corp. iPIX Plug-in v6.2 (CrossOver – npipx32.dll) or Netscape Plug-in iPIX Viewer Related links: QuickTime
MENSI 3Dipsos by MENSI Corporation
3D pointcloud analysis.”