Deals
Chipmaker Imagination’s Owners Tap Lazard to Search for Buyer
- Imagination Technologies seen as fetching £550 million-plus
- CEO says reports that he’s stepping down aren’t true
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Canyon Bridge Capital Partners has hired Lazard Inc. to seek a buyer for chip designer Imagination Technologies, according to people familiar with its plans.
The private equity firm with ties to Chinese state investors believes it can get more than the £550 million ($681 million) it paid for Imagination in 2017, according to the people. The Canyon Bridge fund that owns the chipmaker is nearing the end of its fixed term.