Imagination Technologies logo

Company that provided graphics chips for iGadgets sells for $ 740 million

For those who follow the news from the world of Apple, the name Imagination Technologies is not strange. The British company was responsible for the graphics chips of Apple devices, which decided to put aside the technology of the hitherto partner to use its own solution.

This unpleasant novelty was disclosed by Imagination itself and, with the announcement that its biggest customer would no longer use its technology, the company’s shares 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 manufacturer was purchased by Canyon Bridge, a Silicon Valley private equity fund funded by China’s Yitai Capital.

Confirmation is also on the Imagination website itself, in the document that explains the entire agreement, including the purchase price of £ 550 million (about $ 740 million). With that, perhaps the company can breathe, relieved, and try to recover from the damage caused by Apple, which contributed basically 60% of its revenue.

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

From now on, all upcoming Apple releases will certainly have only GPUs created by the company itself and Imagination will remain in memory only.

via The Verge