Imagination Technologies sold to CBFI Investment Limited
by from Techreport on (#3367G)
Apple threw Imagination Technologies into a tailspin when it announced in April that it would no longer use the British graphics chip designer's PowerVR GPU designs in the proprietary SoCs inside iOS devices. The Cupertino-based company was Imagination's biggest customer until it decided to develop its own GPUs. The mobile graphics design firm then announced in June that it was up for sale. CBFI Investment Limited, a subsidiary of Chinese investment firm Canyon Bridge Capital Partners, has now acquired Imagination Technologies for approximately 550 million-equivalent to around $750 million.
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