The United Kingdom-based chip designing company Imagination Technologies Group Plc announced that it has entered into a licensing agreement with Apple. It is a significant development for imagination, considering the fact that its relationship with Apple had collapsed a few years ago.
In a statement, the chip designer stated it “formed a new multi-year license agreement under which Apple has access to a wider range of Imagination’s intellectual property in exchange for license fees.” Imagination is now owned by the Chinese firm Canyon Bridge Capital Partners.
Apple had used the chips designed by the company in its leading products like iPads and iPhones. However, starting in 2017, the company had decided to design its own chips and the iPhone X was the product in which it was trialed. In 2018, the iPad Pro was launched that had also been powered by Apple’s own chips.
At the time, the company had informed Imagination that within years it was going to stop using its intellection property. It must have come as a major shock for the chip designer. However, the relationship seems to have been revived now.