Apple Is Getting Back Together With Imagination
In early 2017, Apple (NASDAQ: AAPL) dropped a bombshell on graphics intellectual property (IP) supplier Imagination Technologies, telling the company that it would stop using its technology within two years. Apple reportedly told Imagination as early as 2015 that it would transition away from using its IP, while the Mac maker also actively poached graphics engineers from Imagination.
Apple represented over half of all licensing revenue at the time, so losing that business was essentially a death knell for Imagination. The U.K.-based company subsequently put itself up for sale and was acquiredby Canyon Bridge for around $725 million. In a surprise announcement to kick off the New Year, Apple and Imagination are getting back together.
Image source: Apple.
Source Fool.com
