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takyon [soylentnews.org] writes:

Imagination Technologies [wikipedia.org], a company known for its PowerVR GPUs [wikipedia.org] and MIPS [wikipedia.org] processors, saw its shares drop massively [cnet.com] when it announced that Apple would make its own GPUs for the next iPhone. Now it is up for sale [imgtec.com]:

Imagination Technologies Group plc (LSE: IMG, "Imagination", "the Group") announces that over the last few weeks it has received interest from a number of parties for a potential acquisition of the whole Group. The Board of Imagination has therefore decided to initiate a formal sale process for the Group and is engaged in preliminary discussions with potential bidders.

The sale process for the MIPS and Ensigma operations, which commenced on 4 May 2017, is progressing well and indicative proposals have been received for both businesses. [...] There can be no certainty that any offer will be made for Imagination, nor that any transaction will be executed, nor as to terms of any such offer or transaction.

Also at PCMag [pcmag.com], AppleInsider [appleinsider.com] (Imagination is an AppleOutsider), and Reuters [reuters.com].

Original Submission