Imagination Technologies has put the company up for sale. The company said in a statement that it had received interest from a number of parties in recent weeks and so decided to start a formal sale process. Preliminary discussions with potential bidders have already started.
In early May, Imagination already started a sale process for its MIPS and Ensigma operations. This is "progressing well", the company said, and indicative proposals have been received for both businesses.
The planned sale follows the news in April that Apple has stopped using Imagination as a supplier. This prompted Imagination's shares to lose around two-thirds of their market value.
Imagination's technology has been in Apple devices for many years, forming the basis of graphics processor units in Apple's phones, tablets, iPods, TVs and watches. The company started a dispute resolution process with Apple under their licensing agreement to try to restore the deal.
