Company providing graphics chips for iGadgets sells for $ 740 million

Company providing graphics chips for iGadgets sells for $ 740 million

For those who follow the news from the Apple world, the name Imagination Technologies It's not weird. The British company was responsible for the graphics on Ma's devices, which decided to set aside its partner's technology to use a solution of its own.

This unpleasant news was announced by Imagination itself, and with the announcement that its largest customer would no longer use its technology, the company's stock plummeted to the point that in June it announced that it was for sale.

Imagination Technologies Logo

Now, continuing this saga, the Finantial Times stated that the graphics chip maker was bought by Canyon Bridge, a privately held Silicon Valley fund backed by China's Yitai Capital.

The confirmation is also on Imagination's own website, in the document explaining the entire deal, including the purchase price of 550 million $ 740 million). As a result, the company may be able to breathe a sigh of relief and try to recover from Apple's loss of nearly 60 percent of its revenue.

Already Apple is beautiful and beautiful with its own graphics solution, which integrates the powerful new chip A11 Bionic, announced with the new iPhones. Prior to that, Apple used Imagination's PowerVR technology, which still integrates current iPads, Apple Watch Series 3, Apple TV 4K and earlier generations of these devices.

From now on, all of Apple's next releases will certainly have only company-created GPUs and Imagination will be in memory only.

via The Verge