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Imagination Technologies is for sale, will continue fight Apple

Staff Writer |
Imagination Technologies, the British company that has lost 70 percent of its value following a dispute with its biggest customer Apple, said it had put itself up for sale.




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.

Apple accounts for about half of the British firm's revenue. "Imagination remains in dispute with Apple Inc.," the company said.

"Imagination Technologies announces that over the last few weeks it has received interest from a number of parties for a potential acquisition of the whole group," it said.

"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."

Apple has used Imagination's technology in its products from the time of the iPod and the firm receives royalties from every Apple device sold containing its designs, including iPhones and iPads.

Imagination said in April it doubted Apple could go it alone without violating its patents, and in May the group said it had started a "dispute resolution procedure" with the American tech giant.

Analysts have predicted there will be lawsuits ahead.


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