Saturday, 23 September 2017

UK chip designer Imagination bought by Chinese firm for £550m

UK technology firm Imagination, which designs graphics chips for smartphones, is being bought for £550m by a Chinese-backed investment firm.

Imagination put itself up for sale in June after Apple, its largest customer, said it would stop using its products.

The boss of Imagination, Andrew Heath, said the takeover by China-backed Canyon Bridge was a "very good outcome" and would ensure it remained in the UK.

BBC     News.