Imagination Technologies goes up for sale

UK chip manufacturer Imagination Technologies has announced it has put itself up for sale.

The British firm said that over the past few weeks it had received interest from “a number of parties” and decided to begin a formal sales process.

It is now in preliminary talks with potential bidders.

Imagination has been in a licensing dispute with Apple since it announced in April that the US firm, which accounts for more than half of its revenues, was planning to stop using its technology within 15 months to two years.

Apple currently uses the chips in its iPhones, iPads and iPods under a licensing agreement.

In April, the UK firm questioned whether Apple would be able to develop its own computer chip designs without breaching Imagination’s patents.

Last month, it announced it had started a dispute resolution procedure with Apple over licensing payments.

In a statement on its website, Imagination said it remained “in dispute” with Apple.