"Imagination has made excellent progress both operationally and financially over the last 18 months until Apple's unsubstantiated assertions and the subsequent dispute forced us to change course," said Imagination Technologies CEO Andrew Heath. "The acquisition will ensure that Imagination — with its strong growth prospects — remains an independent IP licensing business, based in the UK, but operating around the world."
According to a report from the Financial Times, the Canyon Bridge deal is valued at about 550 million pounds ($742 million) and is contingent on the completion of a separate sale involving MIPS, Imagination's U.S. unit.
This is what happens when you become an Apply supplier and give all you've got to them. Samsung didn't just became an Apple supplier they became a competitor in order to be around in case Apple doesn't need them anymore.
Really? Samsung was an Apple supplier first, and then a competitor? So, the giant corporation that sells literally everything from ships to consumer electronics got into phones so that it could protect itself from Apple who eventually tries to become less reliant on suppliers?
Well, Samsung better get cracking: Funny that Samsung's unit that supplies Apple is more profitable that it's mobile division that uses a lot of its own components to actually build phones -- The same mobile unit that indeed seems to produces pretty much the majority of ALL phone handsets in the world.
Perhaps Samsung should get down to business and come up with a profitable flagship that actually sells in some volume and makes them some money, instead of exploding in their customers' hands.
...I work for a company where 90% of our business comes from one customer (sort of). I strongly suspect our management has absolutely no plan whatsoever for what to do if we lose that customer. I suspect we’ll be dead as a door nail. But it doesn’t have to be that way.
"...Apple's unsubstantiated assertions and the subsequent dispute..."Well Apple just proved their assertion that they would and could build their own in-house graphics solution. Now it's up to Imagination to prove it's assertion that it still uses their IP. And they could still fail the Canyon Bridge 'contingency' MIPS sale condition. I cant imagine Canyon Bridge wanting to start their ownership with an expensive court battle over IP.
This is what typically happens when a business allows itself to become too dependent on sales to just one company.
This was a failure of management at Imagination. It was not a mistake to be a supplier to Apple. It was profitable for Imagination while it lasted. The mistake was to apparently have no plan B if they lost Apple as a customer. I work for a company where 90% of our business comes from one customer (sort of). I strongly suspect our management has absolutely no plan whatsoever for what to do if we lose that customer. I suspect we’ll be dead as a door nail. But it doesn’t have to be that way.