Apple’s Former Gpu Maker Bought by Chinese Firm for $743 Million

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Imagination put itself up for sale in June after Apple, its largest customer, said it would stop using its products: the technology firm has now been bought by a Chinese-backed investment firm, Canyon Bridge Capital Partners, making it the latest UK chip designer to be bought by a foreign investor. The firm said it currently has no plans to cut jobs at Hertfordshire-based Imagination after the takeover.
Imagination saw its shares halve in value when Apple said in April that it would end a deal to use its products. The two firms are still engaged in a dispute over the move – with Imagination questioning Apple’s "assertions" that it would be able to develop its own computer chip designs without breaching Imagination’s intellectual property rights. Apple’s royalty payments for the chip technology, used in its iPhones, iPads and iPods, accounted for about half of Imagination’s revenues.
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September 24, 2017 at 08:31PM

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