Imagination Technologies Group announces that over the last few weeks it has received interest from a number of parties for a potential acquisition of the whole Group. The Board of Imagination has therefore decided to initiate a formal sale process for the Group and is engaged in preliminary discussions with potential bidders.
The sale process for the MIPS and Ensigma operations, which commenced on 4 May 2017, is progressing well and indicative proposals have been received for both businesses. Further to the announcement on 4 May 2017, Imagination remains in dispute with Apple Inc.
Just a few months ago, Imagination announced that Apple was planning to phase out use of its GPU IP within 15 month to two years. The company claims it would be 'extremely challenging' to design a brand new GPU architecture from basics without infringing its intellectual property rights.