(MENAFN) A Chinese-backed investment firm bought UK technology firm Imagination, which designs graphics chips for smartphones, for 550m Pound.
"The takeover by China-backed Canyon Bridge was a "very good outcome" and would ensure it remained in the UK, the boss of Imagination", Andrew Heath, said.
Furthermore, last year Japan's Softbank bought ARM, which designs microchip technology used in Apple and Samsung smartphones, for 24bn Pound.
MENAFN2309201700450000ID1095889096
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.