A large part of Imagination Technologies buys Chinese Fund Canyon Bridge Capital Partners
As you know, the Apple SoC A11 Bionic has got graphics processor of its own design of copertina. And if for some this is an interesting novelty, for others the cause of the collapse.
Back in June, Imagination Technologies put itself for sale after failing to cope with the consequences of sudden rupture of relations with Apple. Given that the development of A11 Bionic began three years ago, Cupertino giant could warn his old partner about the possible termination of cooperation. But it so happened, how it happened.
As a result, the business of the British company have already found buyers. Most of the business will become a Chinese Fund Canyon Bridge Capital Partners, paying him about $ 743 million. This corresponds to 2.47 per share, which is 41.6% higher than the price of shares Imagination Technologies at the time of the transaction.
It is reported that the Canyon Bridge is not going to make changes to the structure, Imagination Technologies and will keep even the headquarters of the company. Assets associated with the technology of MIPS will be sold separately for 65 million dollars the American company Tallwood.