Imagination Technologies, facing steep stock drop, is putting itself up for sale.
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Once the world learned that Apple will design its own GPU for upcoming iPhones and iPads instead of using Imagination Technologies PowerVR tech, the UK company quickly lost 70 percent of its value. While it's still in "dispute" with Apple over the breakup, it already put two of its units, MIPS and Ensigma up for sale, and today announced that the entire company is open to being acquired. Its board of directors said in a press release that "it has received interest from a number of parties for a potential acquisition of the whole Group...and is engaged in preliminary discussions with potential bidders."
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