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This is truly a sad day for IP. No one wants Imagination Technologies? The back story is quite interesting here. Apple tried to acquire Imagination after SoftBank acquired ARM for $32B. Unfortunately Imagination management had too active of an imagination on valuation so Apple not only left the table but left the building completely and started building their own IP. Imagination then went into panic mode and made legal references about protecting their IP (suing Apple). Well that did not go well so they put up the MIPS division for sale and that did not happen so now the whole company is for sale.
The moral of this story clearly is check your ego at the door and do not piss off Apple!
My guess is that either Synopsys or Cadence will buy the assets of Imagination technology then do a sweetheart patent deal with Apple. Because, again, do not piss off Apple.
How could the so called analysts not mention Synopsys, the #1 IP provider or Cadence? Geezee... no respect I tellz ya.... no respect. CEVA is a distinct possibility, they wanted the MIPS division but Imagination out bid them. I'm just not sure CEVA will want that debt or dilution. My preference would be Cadence, they need the IP boost more than Synopsys.
I also think QCOM would have the most incentive to buy. While I agree it's best to avoid getting into fights with Apple, if you are already in a fight with Apple best to go in as heavily armed as possible.
I also think QCOM would have the most incentive to buy. While I agree it's best to avoid getting into fights with Apple, if you are already in a fight with Apple best to go in as heavily armed as possible.
Just to throw in some spice into the mix - any ambitious Physics/Game engine development firm (e.g. Epic Megagames - Unreal Engine) may have some interest in PowerVR ray tracing technology if it wishes to have total control over the hardware/software stack!
QCOM would be interested in IP, and unlike IMGTEC, they have the ability and experience necessary to actually enforce. Apple is right now blatantly violating IMGTEC IP in developing it's own GPU, and IMGTEC is absolutely powerless do do anything about it.
Now this is interesting. If a China backed P/E fund hits Apple up for royalties they will have a hard time suing or bullying their way into a favourable deal. Look for Apple to try to have this blocked.
"Imagination has drawn preliminary interest from several parties, the people said. SoftBank Group Corp.’s ARM Holdings Plc and chip designer Rambus Inc. are among those looking at the company and considering bids, the people said."
Rambus, Softbank and Canyon Bridge ... this seems interesting!
Breaking News: IMGTEC to be sold off for £550m (which works out to be £1.82 per share) to Canyon bridge. Note: this does not include the MIPS division which will be sold off to Tallwood Venture Capital!
