World News

Imagination Tech owner tells UK the company will remain in Britain

LONDON (Reuters) – Private equity firm Canyon Bridge, the Chinese-backed owner of Imagination Technologies, told the British government it was committed to keeping the chip designer headquartered in the UK, confirming an earlier Reuters report.

After a meeting with Culture Minister Oliver Dowden, a Canyon spokesman said: “Representatives from Imagination Technologies and its owners Canyon Bridge had a constructive meeting.”

“We discussed our ongoing commitment to Imagination Technologies as a UK headquartered business and have agreed to maintain dialogue with the Secretary of State as we further build out our senior management team,” the spokesman said.

(Reporting by Paul Sandle and Guy Faulconbridge)

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