The company that failed to acquire Lattice Semiconductor will acquire Imagination Technologies instead:
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.
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(Score: 2) by MichaelDavidCrawford on Monday September 25 2017, @09:53PM (1 child)
... without hurting anyone.
Yes I Have No Bananas. [gofundme.com]
(Score: 4, Funny) by aristarchus on Tuesday September 26 2017, @08:45AM
I, too, was impressed, MDC! If only we had more Fine Articles like this, and fewer, or no, aristarchus submissions. (before you mod, see sig.)