Imagination Technologies has officially announced that it has started sale process for the Group and is engaged in preliminary discussions with potential bidders, after it received interest from a number of parties for a potential acquisition of the whole Group over the last few weeks.
This new comes after an announcement from Apple in April that it will no longer use graphics chips from the UK-based Imagination Technologies for new products in 15 to 24 months. Last month Imagination Technologies said that they will be focusing entirely on the GPU business and put their remaining non-GPU businesses – the MIPS CPU business and the Ensigma communications business for sale.
Today it said that 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. It also said that it remains in dispute with Apple.
It did not name any suitors – and is warning that a sale may not go through at all. “A further announcement will be made as and when appropriate,” said the company.