Imagination sells loss-making Pure
September 30, 2016
Imagination Technologies Group, owners of PowerVR-brand graphics processors and MIPS-brand microprocessors, is to sell its Pure digital radio business.
“The Pure business, with its assets and liabilities, is being sold on a cash and debt free basis to AVenture AT, an Austrian company, for £2.6m in cash,” said Imagination. “The buyer has also been granted an option to acquire one of the Group’s properties in Kings Langley, Hertfordshire for £4.5m. The cash will be used to reduce the Group’s debts.”
The deal is expected to complete on 30 September 2016.
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