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