Exclusive: Chinese-backed owners commit to UK HQ for Imagination Tech – source

The headquarters of technology company Imagination Technologies is seen on the outskirts of London, Britain, June 22, 2017. REUTERS/Hannah McKay

LONDON (Reuters) – The Chinese-backed owners of Imagination Technologies told the British government on Friday the chip designer would remain headquartered in the United Kingdom, a source with knowledge of the matter said.

Private equity firm Canyon Bridge, which is backed by Chinese state-owned China Reform holdings, also committed to maintain a dialogue with the British government over future board appointments at Imagination Technologies, the source said.

Imagination Technologies, once a jewel in Britain’s technological crown, was bought by Canyon Bridge in 2017.

Canyon Bridge representatives had a conference call with Britain’s culture minister, Oliver Dowden, on Friday, sources with knowledge of the situation said.

Reporting by Guy Faulconbridge and Paul Sandle; editing by David Evans

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