Imagination may need cash injection
August 13, 2019
Imagination says it may need another cash injection from its Chinese-owned private equity owner Canyon Bridge.
‘The continuing uncertainty over Imagination’s relationship with Apple, and the level of cash receipts that will be received in the future from Apple, may result in the company requiring financial support from Canyon Bridge,’ said Imagination.
Imagination had 2018 royalty revenues of £71.5 million last year of which £45.3 million came from Apple which only uses Imagination IP in older phones which are phasing out.
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