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Amid Apple dispute, chip maker 'Imagination Technologies' up for sale

Apple had been using Imagination's technology and intellectual property for years

IANS  |  San Francisco 

Apple, iPhone, iPad
Photo: Reuters

Britain-based Imagination Technologies, former chip designer for and currently in a legal dispute with the maker, has put itself up for sale.

used Imagination's and intellectual property for years.

It formed the basis of Graphics Processor Units (GPUs) in Apple's iPhones, tablets, iPods, 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.

announced in April that it would cut its reliance on Imagination within two years.

First Published: Fri, June 23 2017. 12:37 IST