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Former Apple supplier Imagination Technologies goes up for sale

  • British chipmaker Imagination Technologies (OTC:IMGTY) goes up for sale after Apple (NASDAQ:AAPL) ditched the company’s graphic chips for in-house designs. Apple accounts for half of Imagination’s sales.
  • In April, Apple made its supply change announcement that is effective within two years. Imagination Technologies shares immediately plummeted.
  • Rumored interested buyers include Qualcomm, Mediatek, and Apple. 
  • Imagination had already put its embedded MIPS tech division and mobile connectivity division up for sale. The company now says it has received proposals for both divisions. 
  • Imagination Technologies shares are up 16.8%, putting the market cap at $410M.  
  • Previously: Imagination Technologies - a takeover target? (April 4)

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Imagination Technology Group PLC ADR