The deal was approved by the government of then-prime minister Imagination Technologies Group plc is a global semiconductor and software design company, owned by the Chinese Canyon Bridge Capital Partners. This is Money is part of the Daily Mail, Mail on Sunday & Metro media group, Get a discount code to save on your internet security, Discover a range of promo codes on kitchen appliances, Get great deals on existing and new plans, Upgrade your phones with these mobile deals, Click through to score Dell's discount code, Sort your savings, get a cash buffer and pay off debt: How to protect your finances as the UK heads towards a double-dip recession, The city pockets where rents have fallen by up to 26% in a year: Inner London and Edinburgh see prices drop as tenants hunt for more space, 'There is fierce competition for family-sized homes in our area': Demand from keen home-seekers boosts house prices as few properties come to market. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. 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. What next for shares after the post-crash bounce? By Rory Gallivan ONDON--Shares in Imagination Technologies Group PLC soared Monday after it revealed China's Tsinghua Unigroup International has taken … If you click on them we may earn a small commission. MIDAS SHARE TIPS UPDATE: Our shipshape tip Braemar rises 50% in eight months, so is it time to bail out? What the fund that beat the crash is buying now: Barry Norris of Argonaut Absolute Return. Culture Secretary Oliver Dowden has confirmed the issue was being ‘closely looked at’. 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. China security concerns. 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. View map. Fast & Free. China security concerns. It is understood that China Reform gave assurances at the time of its deal with Imagination that it would only be a passive investor. Blue Whale manager: Facebook and some US tech shares are good value but I wouldn't buy Tesla. 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. The comments below have been moderated in advance. Foresight manager: How to invest in property and infrastructure for a reliable income. Imagination Technologies licenses its semiconductor chip designs that are the basic units powering everything from smartphones to computer game consoles. Imagination Technologies Group plc est une entreprise britannique, fabless, spécialisée dans la R&D sur les semi-conducteurs, basée à Kings Langley, Hertfordshire. A state-owned Chinese investor is exploiting coronavirus to seize control of Imagination Technologies, the British chipmaker's former boss has warned. 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. 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’. Where can investors look for shares that will benefit from a coronavirus recovery? High mile club: Bentley's £150,000 V8 Flying Spur is the brand's most affordable and frugal limo - but should you spend an extra £21,000 for the meatier W12 version? Woz re-joined Imagination in 2018 as EVP, leading corporate development, strategy and marketing, having previously worked for Imagination from 2004 to 2016. China Reform is the biggest investor in Cayman Islands-based Canyon Bridge, which bought Imagination for £550million in 2017 despite fears that the deal handed too much power to the Chinese. It marks the latest salvo in an escalating row about Imagination’s future amid concerns over China Reform Holdings’ links to Beijing. Imagination Technologies Room 2660, 26F, Anlian Building, No 4018 of Jintian Rd, Futian District, … Is Japan a golden  opportunity for investors in the coronavirus storm? China – Shanghai. Imagination was sold to private equity business Canyon Bridge for £550m in 2017. The British chip maker and Apple supplier has scheduled an emergency board Imagination Technologies Room 903, 904 & 905 Floor 9, No.1155 Fangdian Road, Kerry Parkside Office Building, Pudong, Shanghai 201204, China +86 021 2043 0000 cnmarketing@imgtec.com. We've had the vaccine rally and US election, so what happens next for shares? The dilemma is the tech industry needs China and China needs international tech. But as the coronavirus forced the Government into crisis mode, it emerged that China Reform was plotting to take control by appointing four directors. China +86 10 5982 2240 +86 10 5982 2241. Imagination Technologies were contacted for comment. 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. The acquisition of Imagination Technologies by Canyon Bridge was originally approved on the grounds the investment firm operated under US legal jurisdiction. 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), and its Pure consumer electronics division. China Reform Holdings is controlled by the Chinese government. The original company was founded in 1985. Dowden has promised new laws will soon give ministers stronger powers to intervene but action has been promised in various guises since 2017. Spokesman for Imagination Technologies and Canyon Bridge declined to comment. Then cash in on the obesity war and you'll be gladly gaining POUNDS! Online supermarket shopping has skyrocketed as Britons in lockdown buy their food from home like never before - But will this last and can it be profitable? 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. Imagination Technologies licenses its semiconductor chip designs that are the basic units powering everything from smartphones to computer game consoles. At the time, ministers nodded through the deal after assurances that China Reform would be a passive investor and that Imagination’s intellectual property and business would stay in the UK. On the very same day, Imagination also collected the “Highest Potential Enterprise Award” at the China IoT Conference and the 5th China IoT Innovation Awards in Shenzhen. We do not write articles to promote products. MIDAS SHARE TIPS: Building work will continue and merchants are open in lockdown, so Selco-owner Grafton is sturdy choice in rickety times. China abandons bid to seize control of chip maker Imagination Technologies after Westminster backlash. The collaboration supports the PicoRio board that is the first RISC-V development platform released by the RIOS Lab, a spinout of the Tsinghua-Berkeley Shenzhen Institute (TBSI) in Shenzhen, China. The Telegraph values your comments but kindly requests all posts are on topic, constructive and respectful. A Chinese company’s attempt to take control of the board of Imagination Technologies has sparked a political backlash. Will the UK election result boost or sink the stock market? John Rayfield has left the British chip developer amid “a breach of trust” with its owners, Sky News learns. Imagination Technologies creates and licences semiconductor System-on-Chip Intellectual Property (SoC IP). Imagination employs 650 people in the UK and 900 worldwide and a move to China could affect these jobs. Pensioners pressured into paying twice for a TV licence forced to wait months for a refund, How to keep homeschool costs down: It's not just the price of laptops and tablets that leave families struggling, Is it time to add bitcoin to your portfolio now that City investors are? Janus Henderson's TR European Growth trust manager Ollie Beckett on their prospects in the Covid recovery. 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 dilemma is the tech industry needs China and China needs international tech. We do not allow any commercial relationship to affect our editorial independence. Apple is banking on China for its upcoming 5G smartphone and sales growth via companies like China Mobile. 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. A Cayman Islands private equity firm called Canyon Bridge acquired the firm for £550 million ($688 million) in the same year. Please review our, You need to be a subscriber to join the conversation. The intervention comes with the Apple supplier due to hold a board meeting next week to discuss the appointment of four representatives of a state-controlled Chinese investment firm to its board. The attempted coup suggests these concerns were not taken seriously enough – and raises fresh questions about the takeover of British firms by foreign companies. 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