 "Amid Apple dispute, chip maker 'Imagination Technologies' up for sale")
Britain-based Imagination Technologies, former chip designer for Apple and currently in a legal dispute with the iPhone maker, has put itself up for sale.
Apple used Imagination's technology and intellectual property for years.
It formed the basis of Graphics Processor Units (GPUs) in Apple's iPhones, tablets, iPods, TVs and watches.
"Over the last few weeks, we have received interest from a number of parties for a potential acquisition of the whole group. The board has decided to initiate a formal sale process and is engaged in preliminary discussions with potential bidders," Imagination said in a statement late on Thursday.
The company's stock surged over 20 per cent after it issued the statement, media reported on Friday.
Apple announced in April that it would cut its reliance on Imagination within two years.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app