Imagination Technologies in Takeover Talks
June 22 2017 - 2:49AM
Dow Jones News
By Rory Gallivan
LONDON--Imagination Technologies Group PLC (IMG.LN), the U.K.
tech company whose share price crashed earlier this year when Apple
Inc. (AAPL) said it would stop using the chip designer's technology
in its devices, said Thursday it has been approached about being
taken over.
Imagination said it "has received interest from a number of
parties for a potential acquisition of the whole group."
It said it has "decided to initiate a formal sale process for
the group and is engaged in preliminary discussions with potential
bidders."
The company, which specializes in graphics technology, also said
it has received proposals about buying two of its non-graphics
businesses.
The company remains in dispute with Apple, it said.
Shares in Imagination fell more than 70% in April when Apple
said it would stop using Imagination's technology in its new
products in about 15 months' time.
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
(END) Dow Jones Newswires
June 22, 2017 02:34 ET (06:34 GMT)
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