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Imagination Technologies
Imagination Technologies Group Limited is a British semiconductor and software design company owned by Canyon Bridge Capital Partners, a private equity fund based in Beijing that is ultimately owned by the Chinese government. With its global headquarters in Kings Langley, England, its primary business is in the design of PowerVR graphics processors (GPUs) for AI processing. The company was listed on the London Stock Exchange until it was acquired by Canyon Bridge in November 2017.
The company was founded in 1985 by Tony Maclaren, and subsequently led by him as group chief executive, as VideoLogic and originally focused on graphics, sound acceleration, home audio systems, video-capture and video-conferencing systems, making interactive video products for personal computers. It was first listed on the London Stock Exchange in July 1994. The following year it entered into a licensing agreement over its PowerVR technology with NEC (now Renesas) who took a 2.29% stake in the company for £1.6 million and acquired the rights to manufacture and sell the chip. On 2 December 1997, NEC subscribed 2.3 million (1.5%) new shares at a price of 56.5p, taking its total stake to 3.5%. In 1999, the company refocused on intellectual property licensing generally and changed its name to Imagination Technologies.
Hossein Yassaie, who joined the company in 1992, became the company's chief executive officer (CEO) in 1998. On 29 December 2012, Yassaie was awarded a knighthood in the 2013 New Year Honours. The award was given in recognition of his services to technology and innovation.
Since the 1990s, VideoLogic has provided chips for digital television set-top boxes.
On 23 March 2000, Imagination Technologies acquired Ensigma, a private company specialising in digital signal processing, for a maximum consideration of £5 million. On 26 September 2001, Imagination Technologies acquired Cross Products Limited, a company designing and producing development tools for META DSP IP cores and Renesas's SuperH architecture processors under CodeScape brand, for £4.2 million.
In October 2006, Intel Corporation acquired a 2.9% stake in Imagination Technologies for £5.28 million. On 24 November 2008, Imagination Technologies announced a license agreement it signed with a new partner, then undisclosed, for a high-performance version of its PowerVR SGX graphics processor chip: this was later revealed to be Apple Inc. In December 2008, Apple Inc purchased a 3.6% stake in the company for £3.2 million.
In June 2009, it was announced that Intel's stake had increased to 14% after it had acquired 25 million shares. One week later, Intel acquired another 5 million shares from the Saad Group (based in Saudi Arabia), and its shareholding rose to 16.02%. Days later, Apple Inc announced it had subscribed for 2.2m new shares at 142.75p each and made market purchases of another 11.52 million shares, raising its stake to 9.5%; Saad Group, who had held 44.6 million shares i.e. 20.3% of the company as at 30 June 2008, was thought to be the vendor of these shares, and had been reportedly forced to divest after its bank froze its accounts.
On 17 November 2010, Imagination Technologies announced its intention to acquire HelloSoft, one of the world's leading providers of Video and Voice over Internet Protocol and wireless LAN technologies, for a maximum consideration of $47 million. On 14 December 2010, Imagination Technologies acquired Caustic Graphics, developer of hardware/software real-time ray-tracing graphics technology which was founded by a group of former Apple engineers, for $27 million. On 14 December 2011, Imagination Technologies announced that it had signed a licensing agreement with Qualcomm. The company signed an agreement for the display IP from its PowerVR portfolio.
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Imagination Technologies
Imagination Technologies Group Limited is a British semiconductor and software design company owned by Canyon Bridge Capital Partners, a private equity fund based in Beijing that is ultimately owned by the Chinese government. With its global headquarters in Kings Langley, England, its primary business is in the design of PowerVR graphics processors (GPUs) for AI processing. The company was listed on the London Stock Exchange until it was acquired by Canyon Bridge in November 2017.
The company was founded in 1985 by Tony Maclaren, and subsequently led by him as group chief executive, as VideoLogic and originally focused on graphics, sound acceleration, home audio systems, video-capture and video-conferencing systems, making interactive video products for personal computers. It was first listed on the London Stock Exchange in July 1994. The following year it entered into a licensing agreement over its PowerVR technology with NEC (now Renesas) who took a 2.29% stake in the company for £1.6 million and acquired the rights to manufacture and sell the chip. On 2 December 1997, NEC subscribed 2.3 million (1.5%) new shares at a price of 56.5p, taking its total stake to 3.5%. In 1999, the company refocused on intellectual property licensing generally and changed its name to Imagination Technologies.
Hossein Yassaie, who joined the company in 1992, became the company's chief executive officer (CEO) in 1998. On 29 December 2012, Yassaie was awarded a knighthood in the 2013 New Year Honours. The award was given in recognition of his services to technology and innovation.
Since the 1990s, VideoLogic has provided chips for digital television set-top boxes.
On 23 March 2000, Imagination Technologies acquired Ensigma, a private company specialising in digital signal processing, for a maximum consideration of £5 million. On 26 September 2001, Imagination Technologies acquired Cross Products Limited, a company designing and producing development tools for META DSP IP cores and Renesas's SuperH architecture processors under CodeScape brand, for £4.2 million.
In October 2006, Intel Corporation acquired a 2.9% stake in Imagination Technologies for £5.28 million. On 24 November 2008, Imagination Technologies announced a license agreement it signed with a new partner, then undisclosed, for a high-performance version of its PowerVR SGX graphics processor chip: this was later revealed to be Apple Inc. In December 2008, Apple Inc purchased a 3.6% stake in the company for £3.2 million.
In June 2009, it was announced that Intel's stake had increased to 14% after it had acquired 25 million shares. One week later, Intel acquired another 5 million shares from the Saad Group (based in Saudi Arabia), and its shareholding rose to 16.02%. Days later, Apple Inc announced it had subscribed for 2.2m new shares at 142.75p each and made market purchases of another 11.52 million shares, raising its stake to 9.5%; Saad Group, who had held 44.6 million shares i.e. 20.3% of the company as at 30 June 2008, was thought to be the vendor of these shares, and had been reportedly forced to divest after its bank froze its accounts.
On 17 November 2010, Imagination Technologies announced its intention to acquire HelloSoft, one of the world's leading providers of Video and Voice over Internet Protocol and wireless LAN technologies, for a maximum consideration of $47 million. On 14 December 2010, Imagination Technologies acquired Caustic Graphics, developer of hardware/software real-time ray-tracing graphics technology which was founded by a group of former Apple engineers, for $27 million. On 14 December 2011, Imagination Technologies announced that it had signed a licensing agreement with Qualcomm. The company signed an agreement for the display IP from its PowerVR portfolio.