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posted by Fnord666 on Monday September 25 2017, @07:26PM   Printer-friendly
from the Apple-impact dept.

The company that failed to acquire Lattice Semiconductor will acquire Imagination Technologies instead:

https://www.bloomberg.com/news/articles/2017-09-22/imagination-technologies-agrees-to-takeover-by-canyon-bridge

Imagination Technologies Group Plc agreed to be acquired by China-backed private equity firm Canyon Bridge Capital Partners.

Canyon Bridge said it will pay 182 pence a share in cash, or more than 500 million pounds ($675 million), for the U.K. designer of graphics chips. That's 42 percent more than Imagination's closing share price on Friday.

As part of the deal, Imagination will sell its U.S.-based embedded processor unit MIPS to Tallwood MIPS, a company indirectly owned by California-based investment firm Tallwood Venture Capital, Canyon Bridge said.

Canyon Bridge was keen to structure a bid to avoid scrutiny from U.S. regulators, Bloomberg reported earlier this month.

Earlier in September President Donald Trump rejected a takeover by Canyon Bridge of U.S. chipmaker Lattice Semiconductor Corp., just the fourth time in a quarter century that a U.S. president has ordered a foreign sale of an American firm stopped for security reasons.

Also at The Verge, AnandTech, and Financial Times.

Previously:

Related:


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