Imagination reviewing its options for Pure
Pure owner Imagination Technologies has responded to recent speculation in the press about the future of the digital radio brand and said it is “reviewing its strategic options”.
In a report in The Sunday Times (January 24), the newspaper claimed that the British chipset manufacturer was set to embark on a radical cost-cutting programme, including the sale of Pure and its headquarters in Kings Langley, Hertfordshire.
Last month, the company issued a profit warning, following its half-year results, which chief executive Sir Hossein Yassaie described as “disappointing”.
In a statement released this week, Imagination said: “As stated at the time of the half-year results in December 2015, the group recognises the challenges it is facing, given the current economic backdrop of the industry in which it operates.
“The group is already and actively controlling the investments that it is making to minimise opex [operating expenses] growth. Imagination continues to monitor the industry situation and will take further actions as and when necessary.
“Pure’s prime focus is now the growing digital radio market and its financial performance is improving rapidly. The group is reviewing its strategic options for this business.”
In 2014, more than 1.3 billion devices featuring technology developed by Imagination were shipped around the world.