Imagination Technologies is up for sale after being ditched by Apple

Back in April, Imagination Technologies revealed that it had been dropped by Apple and would therefore no longer be supplying GPU chips for use in iPhones, iPads and other products. Now, having lost 70 percent of its value, the UK company is putting itself up for sale. Shares in Imagination fell dramatically after Apple ditched it, but news of the sale led to a jump of 21 percent. The company is valued at around £425 million ($538 million) and the announcement comes after several parties expressed interest in an acquisition of Imagination Technologies Group plc in its entirety. The company remains… [Continue Reading]