According to foreign media reports, Imagination Technologies Group Plc (hereinafter referred to as the "Imagination") agreed to purchase by the background of China's private equity fund Canyon Bridge Capital Partners (hereinafter referred to as the "Canyon Bridge").
Canyon Bridge said, it will be in accordance with the 182 p a share in cash or a total of 500 million pounds ($675 million) to pay for buying the British image processing chip design company.Compared with the Imagination of local time Friday's closing price, the price is 42% higher.
Canyon Bridge said, as a part of the deal, Imagination will sell the embedded processor in the United States division MIPS to Tallwood MIPS.Tallwood MIPS had indirectly by the investment company of California Tallwood Venture Capital .
Bloomberg reported earlier this month, Canyon Bridge hoped to avoid by a review of bid for the tender of U.S. regulators.
In early September, the President of the United States Trump gived a veto to Canyon Bridge, buying American chipmakers Lattice Semiconductor Corp.,.And in a quarter of a century, by the President of the United States because of the so-called security reason to veto foreign companies buying American company such cases only four times.
Canyon Bridge's partner Ray Bingham said on Friday that "we will invest in the UK talents and professional technology, in order to accelerate the expansion of the Imagination, especially into Asia."
Imagination is a star in the field of science and technology in the UK, if the transaction is completed, will mark the end of the year of the company deeply in trouble.The company has said in June this year, it is start formal foreign sale process.Earlier this year, the company said its earnings more than half of the Apple company will no longer use its technology.The news sparked Imagination shares fell more than 50%.
In develop its semiconductor technology in recent years, apple has a large amount of investment, especially in images, video, can for smart phones and game for processing image processing chip development has carried on the key investment.The core technology and image processing chip is Imagination.For the first time on Friday 8 launch of the iPhone, apple USES the independent design of the GPU.
As part of its efforts, apple taked away a group of engineers from Imagination including chief operating officer John Metcalfe.In addition, apple still near the headquarters of the company opened a research and development.
Imagination of MIPS business will sell for $65 million to Tallwood MIPS.Imagination in 2013 for $100 million acquisition of the MIPS.MIPS is software what is used to tell the processor technology, widely used in automobile and home network device processor, and also used for high-end equipment such as SONY PlayStation game consoles, but its importance has faded.
According to a statement on Friday, Canyon Bridge management about $1.5 billion.Possible new owners are not going to change Imagination company staff, and to preserve its headquarters in the UK.