LONDON: The Chinese-backed owners of Imagination Technologies told the British government on Friday the chip designer would remain headquartered in the United Kingdom and they would consult over any board changes.
"Imagination Technologies and its owners Canyon Bridge had a constructive meeting," a spokesman for Canyon Bridge and Imagination Technologies said in an emailed statement. A source with knowledge of the talks who spoke on condition of anonymity said Canyon committed to the majority of Imagination Technologies' staff remaining in the United Kingdom and to continue investment in research and development and intellectual property development.Spokesmen for the British government declined immediate comment.
The sale of Imagination Technologies, founded in 1985, was approved by the government of then-Prime Minister Theresa May on the basis that Canyon Bridge would be subject to U.S. law.
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