Imagination Tecnologies a company that creates graphics processors for customers such as Apple and Samsung; its technologies are used in 30% of mobile devices worldwide and represent 40% of GPUs in the automotive world. Auto customers include Audi, Hyundai and Toyota. the UK company is more prolific from the point of view of patents, in front of names such as Dyson and also ARM Holdings (owned by the Japanese SoftBank).
In 2017 the company was acquired by Canyon Bridge, a private equity firm backed by the Chinese fund Yitai Capital whose main investor China Reform Holdings. The fund of the company in question has ties to the central government which intends to exercise more power on the board of directors of the British company specialized in graphics circuits, by imposing four directors.
British MEPs warned Boris Johnson's government on the issue, fearing national security risks. Government intelligence agencies, the Government Communications Headquarters (GCHQ) and the National Cyber ??Security Center have also raised concerns and doubts about the transfer of the company's resources to China. The move in question would have an impact on the workforce (the company employs 650 in the United Kingdom and 900 in other parts of the world), and some observers point out that the transfer of weapons and baggage to China endangers the country's industrial and technological fabric.
In January, Imagination signed new agreements with Apple, and the Trump administration may have a say on the move of the company's board to China. In 2017, the U.S. Foreign Investment Committee (CFIUS) blocked Canyon Bridge's attempt to acquire Lattice Semiconductor, following an executive order from President Trump.
Those who warn the British government point out that the timing of China Reform is not accidental and that the move comes at a "maximum distraction" moment of the various ministries, with governments around the world engaged in the fight against coronavirus.
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