Chinese-backed private equity firm Canyon Bridge has bought UK tech manufacturer Imagination, maker of graphics chips for smartphones. (The US previously blocked the acquisition of Lattice by Canyon Bridge at $1.3bn citing security, or more precisely, "supply-chain integrity" concerns). In the case of Imagination, the MIPS business will be sold to Tallwood MIPS (based in Palo Alto and Jiangsu province in China) for $65m to avoid US regulatory scrutiny. MIPS is a RISC architecture for microprocessors.
