A Cayman Islands private equity firm called Canyon Bridge acquired the firm for £550 million ($688 million) in the same year. The attempted coup comes just months after a furore over whether Chinese telecoms giant Huawei should be allowed to supply kit for 5G mobile networks. Culture Secretary Oliver Dowden has confirmed the issue was being ‘closely looked at’. The company also devotes resources to the development and manufacturing of DAB digital radios. Should people cash in bitcoin profits or wait for the moon? Motor thefts rose by a third last year, DVLA data shows: These 15 models were most frequently reported stolen, No £1-a-litre fuel this lockdown: Petrol prices jump another 4p in a month - as retailers are accused of stinging drivers with a 'lockdown bonus', A better way of earning air miles from your everyday spending? ADRIAN LOWERY has four steps to getting some exposure to cryptocurrencies, Bitcoin's days are numbered as technology develops, warns Bank of England governor Andrew Bailey, Have you lost out to compo claim cash grabbers? China +86 10 5982 2240 +86 10 5982 2241. Scottish Mortgage's Tom Slater on how the growth star investments, 'It's a vast area of change': We meet a food fund manager. At Imagination Technologies, we apply world-renowned engineering expertise to solve today’s most pressing technology challenges; from smarter devices using artificial intelligence to greater insights through augmented reality. One is Softbank-owned Arm; the second is Imagination Technologies. Imagination Technologies licenses its semiconductor chip designs that are the basic units powering everything from smartphones to computer game consoles. By Matt Oliver For The Daily Mail. Published: 22:57 GMT, 7 April 2020 | Updated: 23:19 GMT, 7 April 2020. Janus Henderson's TR European Growth trust manager Ollie Beckett on their prospects in the Covid recovery. We do not write articles to promote products. What kind of rescue could trigger a stock market bounce back? The board meeting scheduled for yesterday was abandoned, however, and the Whitehall investigation will pile pressure on the Chinese investor to back away. Now, Sir Hossein Yassaie, who led the company from 1998 to 2016, believes its technology is at risk of being seized by its Chinese owners amid the current coronavirus pandemic and has asked MPs to look into the matter. Imagination Technologies licenses its semiconductor chip designs that are the basic units powering everything from smartphones to computer game consoles. Its biggest investor, China Reform, has links to the Beijing government and security experts and MPs warned that the sale was part of an effort to create a microchip monopoly which could leave Western countries dependent on its technology. GCHQ and NCSC alerted over Imagination Technologies Chinese takeover The British manufacturer holds emergency talks over the proposed appointment of board members from China … Shortly after unveiling its "massive step" in mobile GPUs with the Power VR Furian in … Where can investors look for shares that will benefit from a coronavirus recovery? Some links in this article may be affiliate links. Imagination Technologies Group plc is a global semiconductor and software design company, owned by the Chinese Canyon Bridge Capital Partners. Officials sprang into action after Tory grandees David Davis and Iain Duncan Smith, as well as four Parliamentary select committee chairmen, demanded protection of an ‘important British strategic asset’. A Chinese company’s attempt to take control of the board of Imagination Technologies has sparked a political backlash. Matthew Henderson, Asia expert at the Henry Jackson Society, said: ‘Presumably, China Reform and Canyon Bridge hoped it might slip through in the chaos caused by the pandemic.’ He called for more ‘defences’ to be put up around UK firms and universities to protect sensitive technologies. Imagination Technologies’ development centers around the world (Image: Imagination Technologies) China, China, China It’s not just IP companies that see China as a big market. See insights on Imagination Technologies including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. With its global headquarters in Hertfordshire , in the United Kingdom its primary business is in the design of PowerVR mobile graphics processors (GPUs), networking routers (based on MIPS CPUs), [3] and its Pure consumer electronics division. Then cash in on the obesity war and you'll be gladly gaining POUNDS! Will the UK election result boost or sink the stock market? Explore 447.000+ new and current Job vacancies. Imagination was sold in 2017 after Apple, a key customer, announced plans to design its own graphics chips. The dilemma is the tech industry needs China and China needs international tech. Imagination Technologies’ development centers around the world (Image: Imagination Technologies) China, China, China It’s not just IP companies that see China as a big market. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. The British chip maker and Apple supplier has scheduled an emergency board Their headquarters are in Kings . View map. China security concerns. He later ran M&A and other corporate projects as a … Canyon Bridge was based in the US at the time but has since relocated to tax haven the Cayman Islands. It is reported that an Imagination executive has heard from China Reform Holdings that it wants to move the domicile of Imagination from the UK to China. MIDAS SHARE TIPS: Building work will continue and merchants are open in lockdown, so Selco-owner Grafton is sturdy choice in rickety times. News. Why it matters: The chip design company is at the center of a geopolitical storm between China, the UK, and the US. Competitive salary. The acquisition of Imagination Technologies by Canyon Bridge was originally approved on the grounds the investment firm operated under US legal jurisdiction. That helps us fund This Is Money, and keep it free to use. Is Japan a golden  opportunity for investors in the coronavirus storm? But as the coronavirus forced the Government into crisis mode, it emerged that China Reform was plotting to take control by appointing four directors. Imagination wins the “Autonomous Driving Award”, at the World Smart Car Conference in Guangzhou, China on 4 December 2020. It is understood that China Reform gave assurances at the time of its deal with Imagination that it would only be a passive investor. 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Imagination was bought for £550 million in 2017 by Canyon Bridge – a China-backed private equity company. View map. It planned to use this influence to move Imagination and its assets to China, Sky News reported. Last week it was revealed that China wanted to gain control of the board of Reform Imagination Technologies. View map. Fast & Free. China – Shenzhen. We urge you to turn off your ad blocker for The Telegraph website so that you can continue to access our quality content in the future. MIDAS SHARE TIPS UPDATE: Our shipshape tip Braemar rises 50% in eight months, so is it time to bail out? The attempted coup suggests these concerns were not taken seriously enough – and raises fresh questions about the takeover of British firms by foreign companies. Imagination has been under the control of Canyon Bridge, a private equity firm whose largest investor is Chinese state-owned investment fund China Reform Holdings since 2017. The comments below have been moderated in advance. How to invest in the new era of falling interest rates, How to profit from green energy, reducing waste and boosting recycling, How to get a near 6% yield by tapping into Asia's dividends: Henderson Far East Income's manager, MIDAS SHARE TIPS: Zoo Digital is the firm that can dub Walt Disney character Mickey Mouse in any language, MIDAS SHARE TIPS UPDATE: Healthy animal feed maker Anpario is flying high. A state-owned Chinese investor is exploiting coronavirus to seize control of Imagination Technologies, the British chipmaker's former boss has warned. Imagination Technologies Group plc est une entreprise britannique, fabless, spécialisée dans la R&D sur les semi-conducteurs, basée à Kings Langley, Hertfordshire. Imagination Technologies Group plc is a global semiconductor and software design company, owned by the Chinese Canyon Bridge Capital Partners. , subsidiaries and more at Craft ” with its owners, Sky News learns controlled by the government... 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