It’s no longer news that there is a big score to settle between chip maker Imagination Technology and Apple. There’s been news trailing the chip maker: the tech industry experiencedwas a drastic plummet in shares, where it lost almost 70% of its value after Apple announced that it would discontinue to use the company’s design as it intends to develop its own graphic chip.
Following this decision by Apple, the British company has put itself up for sale and has announced that a number of parties have indicated interest in acquiring the entire group. In this respect, the Board of Imagination has initiated a formal sale process and discussion with potential bidders in ongoing.
In a press release, it was affirmed that the company remains in dispute with Apple Inc. The imagination went further to issue details on the formal sale process.
As the bid for the Whole Group officially begins, the British company has set certain conditions for parties interested in the formal sale process. Intended bidders will be required to enter into a confidentiality agreement and the terms must be satisfactory to the Board of Imagination. This is a “conditional requirement for information purpose”.
Given the company’s years of expertise in GPU design and its existing customer base, it is certain that it will find a buyer soon and many are hoping that companies like Intel, Qualcomm, MediaTek, Samsung, Google and Apple itself will take good advantage of this purchase.