Imagination Technologies will sell part of business to save the company after the rupture of relations with Apple
A month ago it became known that Apple is developing its own GPU and breaks the relationship with Imagination Technologies. More precisely, after the appearance of a graphical processor copertina simply stop using products from Imagination Technologies. Against this background, the stock immediately fell in price by 67%.
Yesterday it was reported that Imagination Technologies is going to defend their rights in court. But the company understands the prospects of a rupture of relations with Apple. For this reason, according to the source, Imagination Technologies intends to sell some of its divisions to stay afloat.
We are talking about the Enigma division, which is responsible for licensing a private company associated with the Internet of things, and also the division associated with solutions on the MIPS architecture.
At the end of last year, these areas brought the company more than 27 million dollars in revenue, which was 29% of total revenue from Imagination Technologies during the reporting period.