What’s at stake in the fight over control · TechNode

There appears to be a fight on for control of UK semiconductor IP company Imagination Technologies.

The April 4, Sky News headline “State-owned Chinese investor to seize control of chip designer Imagination,” might have sounded scary depending on your geopolitics. But only two days later, the plans were reportedly scrapped, with Chief Revenue Officer David McBrien officially stating “With regards to recent media speculation about the future of Imagination Technologies, we can confirm that there are no changes being made to the Board, which remains Imagination CEO Ron Black and the three Canyon Bridge partners, or the Executive Management of the company.”

After another two days, the story flipped on its head again. Imagination’s CEO stepped down, along with its CTO and CPO, with the latter saying “I will not be part of a company that is effectively controlled by the Chinese government.”

This was submitted to TechNode by an external author. They requested anonymity due to potential conflicts with their employer.

With these people gone, at least for now, the company’s interim CEO is Ray Bingham, Chairman and co-founder of Canyon Bridge. Joining him are Canyon Bridge partners Jon Kao and Peter Kuo. It’s hard to say which way this one will fall. Chinese companies have failed before when taking over foreign semiconductor firms, but the UK government has also failed to block such moves before as well. A capitalist would say Imagination is already Chinese and the UK government shouldn’t interfere; a nationalist might say the opposite.

What’s at stake here? Would such a move change much, given Imagination is already technically owned by a Beijing backed company? What does China want with Imagination anyway?

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What do you think?

Written by wEcZAfTxH1


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