Deals
Apple Strikes New Deal with U.K. Chip Designer It Sidelined in 2017
- Imagination Technologies provided graphics chips for iPhones
- New deal will give Apple “wider range” of Imagination’s IP
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U.K. chip designer Imagination Technologies Group Plc said it’s struck a new license agreement with Apple Inc., reviving a business relationship that had all but ended in recent years.
The company, which was sold to Chinese buyout firm Canyon Bridge Capital Partners for 500 million pounds ($663 million) in September 2017, said Thursday it “formed a new multi-year license agreement under which Apple has access to a wider range of Imagination’s intellectual property in exchange for license fees.”