IPhone GPU maker Imagination technologies up for sale

23 Juin, 2017, 22:14 | Author: Claudine Rigal
  • IPhone GPU maker Imagination technologies up for sale

In a press release on its website, the company notes that "over the last few weeks it has received interest from a number of parties for a potential acquisition of the whole group". The company had already started sales proceedings for two separate parts of the business in May.

The CC team advising Imagination is being led out of London by M&A partner Lee Coney, with support from M&A partner Katherine Moir, intellectual property and dispute resolution partners Vanessa Marsland and Iain Roxborough and competition partners Jenine Hulsmann and Timothy Cornell. Following the news in early April that Apple planned to make its own multimedia processors and phase out its use of Imagination's SoCs, the United Kingdom company's share prices collapsed by almost 70 percent and have now only recovered some of their value. Imagination is now in talks with several possible buyers. Additionally, potential bidders, who will be required to sign a confidentiality agreement, should contact the company's financial advisor, Rothschild, the firm added.

The move comes after it also sold its MIPS and Ensigma divisions.

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However, there's considerable uncertainty regarding the value of Imagination's IP at this point, as well as who might now be interested in it. The company said back in April that it doubts that Apple will be able to produce its own GPU chip without infringing on its patents.

The company's sophisticated chip designs, such as its PowerVR graphics processors, are likely to be the main attraction for potential buyers. Well, MediaTek, Samsung and Huawei's HiSilicon could all have a reason to make a play for the company. In all of these, Apple has been the biggest customer to Imagination owing to 50 percent of the company's revenue.

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