UK's Imagination Technology up for sale after battle with Apple

UK's Imagination Technology up for sale after battle with Apple”

Imagination Technologies announced today that it has entered a formal sale process for the group, and is already in talks with potential buyers.

The company said in April that Apple had notified it of its decision to develop its own graphics chips and would no longer use Imagination's processing designs in 15 months to two years time. Ensigma offers IP licensing for connectivity in mobile computing, unmanned systems and IoT gadgets.

United Kingdom chip designer Imagination Technologies - which is in dispute with Apple, its largest customer - has put itself up for sale.

Shares in the company more than halved in April when Imagination said that Apple would stop using its products.

Imagination shares closed at 123.5 pence on Wednesday.

The company remains in dispute with Apple, it said.

Imagination last month began a dispute resolution process with Apple and has reserved its rights over the U.S. giant's "unauthorised use" of its confidential information and intellectual property rights.

He said efforts to offload MIPS and Ensigma in a bid to strengthen the balance sheet "clearly weren't enough", even though both operate in strong potential growth areas that could have delivered lasting revenue accretion to offset the loss of Apple.

Imagination said at the time it has been unable to make satisfactory progress with Apple for an alternative commercial arrangement for the current license and royalty agreement.

Like this



22 June 2017
Mattel gives Ken doll a makeover
The company had a rocky start to 2017, with a 15 percent drop in sales in the first quarter; sales of Barbie were down 13 percent. A live-action Barbie movie is in the works for next year, with hopes that the big-screen flick will spur doll sales as well.

22 June 2017
Canadian official condemns attack at Bishop airport
The officer is in stable condition at a hospital, and the suspect in Federal Bureau of Investigation custody and being questioned. Neville was a member of the airport's police department, which employs six full-time and six part-time police officers .

22 June 2017
NASA's Kepler mission finds 10 Earth-size exoplanets, 209 others
By conducting this work, the scientists found a way to tell which planets were overcounted and undercounted. The announcement came at a news conference Monday at NASA Ames Research Center in Mountain View.

22 June 2017
Russian Federation expresses displeasure over new United States sanctions
Many previous "waves" of American sanctions have not brought the result on which their initiators counted. That prompted Russian Federation to change its military posture.

22 June 2017
How Analysts Rated Progress Software Corporation (NASDAQ:PRGS) Last Week?
Blackrock Mngmt has invested 0.01% of its portfolio in Progress Software Corporation (NASDAQ:PRGS). (NYSE:CAT) for 4,536 shares. Chicago Equity Ptnrs Ltd Liability Company stated it has 0.01% of its portfolio in Progress Software Corporation (NASDAQ:PRGS).

22 June 2017
The Time Warner Target of Unusually Large Options Trading (TWX)
The California-based United Cap Fincl Advisers Ltd Limited Liability Company has invested 0.02% in Time Warner Inc (NYSE: TWX ). BidaskClub upgraded shares of Time Warner from a "hold" rating to a "buy" rating in a research report on Tuesday.

22 June 2017
Fleury leads Vegas Golden Knights' expansion draft choices
He instantly becomes the team's go-to goal-scorer having scored at least 20 goals in all nine National Hockey League seasons. Thursday morning, so any trades involving players drafted by Vegas and flipped to a third party could not be announced.

22 June 2017
Director Patty Jenkins developing "Wonder Woman" sequel
Wonder Woman is still kicking butt in theaters , but the incredible end credits sequence has been officially released online. What the final moment of the film is best at is saying "Now there's Wonder Woman , now Wonder Woman is born".

22 June 2017
Niantic Find A New Way To Punish Pokémon GO Cheaters
Reddit user KERL0N from Romania posted this image , saying that some of his slashed Pokemon were caught back in early April. A new update has taken things a step further with suspected cheaters having their Pokemon directly affected.

22 June 2017
Diplomat in student's release to attend funeral
Moon said what North Korean leader Kim Jong-un wants most "is to have a security guarantee for his regime ". But the death of American student Otto Warmbier - who the regime imprisoned - seems to have changed that.