Jun 22, 2017

Imagination on the market after Apple setback

Imagination Technologies, once held as an example of British technology success, has put itself up for sale after Apple chose to stop using its products to manufacture the iPhone. Imagination launched a dispute with Apple, which still owns an 8 per cent stake in the British business, but moved to dismantle its divisions in May, by putting up for sale MIPS and its Ensigma unit, which develops "Internet of things" technology. Apple has long been linked with a takeover of Imagination, but ruled out such a move in 2016. "An acquisition of Imagination could be an additional weapon in its fight with Apple, given the existing dispute between Imagination and Apple. Qualcomm would also see value in Imagination's ray tracing IP, while MIPS would be a useful asset in addressing many product segments including automotives," the analyst said. Richard Holway, an analyst with TechMarketView, said: "With Apple having a stake, I guess we all believed that Apple would buy Imagination if they really wanted their own graphics chip. I still think that would be the best solution. But whatever happens, methinks yet another really Great British company will fall to a foreign predator."

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