Imagination Tech up for sale, as Apple battle rages on
- Thursday, June 22nd, 2017
- Share this article:
UK chip designer Imagination Technologies has decided to put itself up for sale. This follows Apple’s decision to stop using the company’s graphic chips in its devices back in April.
The company’s market value fell 70 per cent when Apple, Imagination’s largest customer at the time, decided it would stop using Imagination’s technology and instead would opt to make its own alternatives. This decision left the UK tech firm and the US tech giant locked in an ongoing licensing dispute.
Regarding its potential sale, Imagination says it has “received interest from a number of parties” and such interest has led to the company’s board deciding “to initiate a formal sale process for the Group and is engaged in preliminary discussions with potential bidders”.
Separately, Imagination also said that the sale process of its MIPS and Ensigma operations, which was announced in May 2017, was “progressing well and indicative proposals have been received for both businesses”.
Want more like
this to your inbox?
You might also be interested in
