Canyon Bridge acquired Imagination Technologies for £579m.

Canyon Bridge acquired chip maker Imagination Technologies for £579m. Under the terms of the acquisition, each scheme shareholder will be entitled to receive 182 pence in cash for each Imagination share. Commenting on the acquisition, Andrew Heath, Chief Executive Officer of Imagination said: "The proposed acquisition is a very good outcome for Imagination's Shareholders which the Imagination directors are intending to recommend unanimously. Imagination has made excellent progress both operationally and financially over the last 18 months until Apple's unsubstantiated assertions and the subsequent dispute forced us to change course."