Imagination, MIPS to be sold to China-, California-connected VCs: Page 3 of 3

September 23, 2017 // By Peter Clarke
Imagination, MIPS to be sold to China-, California-connected VCs
Processor intellectual property licensor Imagination Technologies Group plc (Kings Langley, England) has agreed to sell off its MIPS processor business to Tallwood Venture Capital (Palo Alto, Calif.) and then to sell the remainder of itself to Canyon Bridge Capital Partners LLC (Palo, Alto, Calif.), a venture capital firm that is managing funds provided by China.

Bingham continued: "We are investing in UK talent and expertise in order to accelerate the expansion of Imagination, particularly into Asia, where its technology platform will lead the continued globalization of British-developed innovation."

On the sale of Imagination Heath commented: "Imagination has made excellent progress both operationally and financially over the last 18 months until Apple's unsubstantiated assertions and the subsequent dispute forced us to change course. The acquisition will ensure that Imagination – with its strong growth prospects – remains an independent IP licensing business, based in the UK, but operating around the world."

Related links and articles:

www.imgtec.com

www.canyonbridge.com

www.tallwoodvc.com

News articles:

Imagination puts itself up for sale

Apple breaks with Imagination

Apple hires group of UK GPU engineers

Imagination launches flexible neural network IP

How Apple will dodge an Imagination lawsuit


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