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Thread: Top Imagination Tech execs quit over China influence

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    Top Imagination Tech execs quit over China influence

    China Reform Holdings attempted to nominate a slate of directors to the company board.
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    Re: Top Imagination Tech execs quit over China influence

    CEO, CPO, CTO, all main business brains didn't know that this is going to happen - yeeeeaaaaah right. They took the nice bill and now escaping the ship that will be flagged as stolen IP.

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    Re: Top Imagination Tech execs quit over China influence

    Apple is the cause of all of this. They were the major customer of Imagination Technologies,and at short notice said they were not going to license their IP. Then they made a fancy new R and D office nearby in Cambridge and poached away engineers from the company to design their own GPUs,and then the Chinese backed investors swooped in:
    https://www.theregister.co.uk/2017/0..._apple_ip_gpu/
    https://www.telegraph.co.uk/technolo...amid-chip-row/
    https://www.theregister.co.uk/2017/0...nologies_2017/

    They had to fire 20% of their staff.

    Its not only Imagination Technologies but also MIPs too which China got hold,as they were owned by Imagination Technologies too in 2017:
    https://www.eenewsanalog.com/news/im...-connected-vcs

    Now Apple probably has realised maybe they are not so good at GPU design,they have become friendly again with them:
    https://arstechnica.com/gadgets/2020...icensing-deal/

    All of sudden,now the UK government is interested in the China connection.


    Those despicable Elk,stealing the pond weed!

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    Re: Top Imagination Tech execs quit over China influence

    The gov have been repeatedly useless in multiple instances like this. Committee formed, "looks into it" , "seeks clarification and assurances", allows it to go ahead, does nothing when those assurances turn out to be worthless. We should just do what the French do and block mergers that are not in our national interest. Instead we get this. E.g. Look at Cadbury a few years ago, hostile takeover against its will - assurances to UK government by purchaser not kept and UK jobs lost, plant moved to Poland et al. Quality of chocolate and brand reduced, and that was a national icon and generous employer before. Any backlash from the government? None whatsoever that I'm aware of.

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    Re: Top Imagination Tech execs quit over China influence

    Well I guess the water services will be next, then... China has invested in several of our regional undertakers.
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    I dare anything... I am Skeletor!!!!

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    Re: Top Imagination Tech execs quit over China influence

    there is an alarming pattern emerging and if we had stronger leadership we would be being a damn site more cautious about how much we're allowing to be sold off/invested in etc out of sheer desperation. We need to mobilise this nation to do home-grown like never before and start some serious industry in our country. They're too scared because of carbon emissions, and we can't even build some nuclear plants to try and get some more reliable low-emission baseline power without having to get a certain nation involved. Instead we're selling off national assets and refusing to rescue the industries we will need if things go south and relationships get more frosty - like they soon will if they become a dominant power over the US (not too far way and drawing nearer it would seem)

    It's not the only threat either - increasingly affluent and influential investment banks et al are an equal problem. Hostile takeovers, mergers, asset stripping stripping away social-good programs and corporate welfare etc for profit. Also according the UN papers I read on it probably influential in swaying commodity prices and exacerbating famine and shortages in 3rd world nations - literally controlling prices to the detriment of those growing the crops and most in need of them. Free capitalism is not a panacea either.

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    Re: Top Imagination Tech execs quit over China influence

    Quote Originally Posted by ik9000 View Post
    there is an alarming pattern emerging and if we had stronger leadership we would be being a damn site more cautious about how much we're allowing to be sold off/invested in etc out of sheer desperation. We need to mobilise this nation to do home-grown like never before and start some serious industry in our country. They're too scared because of carbon emissions, and we can't even build some nuclear plants to try and get some more reliable low-emission baseline power without having to get a certain nation involved. Instead we're selling off national assets and refusing to rescue the industries we will need if things go south and relationships get more frosty - like they soon will if they become a dominant power over the US (not too far way and drawing nearer it would seem)

    It's not the only threat either - increasingly affluent and influential investment banks et al are an equal problem. Hostile takeovers, mergers, asset stripping stripping away social-good programs and corporate welfare etc for profit. Also according the UN papers I read on it probably influential in swaying commodity prices and exacerbating famine and shortages in 3rd world nations - literally controlling prices to the detriment of those growing the crops and most in need of them. Free capitalism is not a panacea either.
    I have seen first hand what happened to a company someone I knew at,when it was taken over by a larger US company. Jobs were transferred to the US,and UK operations were reduced significantly.

    I made this thread a while back which didn't get much attention:
    https://forums.hexus.net/general-dis...aerospace.html

    GKN is strategically important,but the government allowed some scalpers to perform a hostile takeover,and these people were Brits! Was talking to some I knew who was affected by this,ie,pensions are already affected.


    Those despicable Elk,stealing the pond weed!

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    Re: Top Imagination Tech execs quit over China influence

    Quote Originally Posted by CAT-THE-FIFTH View Post
    I have seen first hand what happened to a company someone I knew at,when it was taken over by a larger US company. Jobs were transferred to the US,and UK operations were reduced significantly.

    I made this thread a while back which didn't get much attention:
    https://forums.hexus.net/general-dis...aerospace.html

    GKN is strategically important,but the government allowed some scalpers to perform a hostile takeover,and these people were Brits! Was talking to some I knew who was affected by this,ie,pensions are already affected.
    must have missed that one. This is the problem with our government's cosying to the free-market ethics and when you're a party rubbing shoulders with the rich and wealthy, and probably are in or around that bracket you don't realise, or won't see, the impact on others. Your bubble seems to stay ok so all is fine right? I was taught at school a healthy mixed economy is the optimal model, I don't understand why people seem so afraid to go with it.

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    Re: Top Imagination Tech execs quit over China influence

    Rather saddened things went this way (I worked there for quite a while). The chinese takeover always seemed fishy to me.
    Rumour had it that apple made more than one buyout attempt but I have no substantiation to that ( They obviously did go on to employ a number of my colleagues.). A buyout by an established firm probably would have resulted in a lot of cuts so that might have been part of the motivation, I don't really know.
    Really, the share price never recovered after Intel sold their stake alongside that the attempt to expand in to non graphics areas seemed to not really pay off.
    There's still many good engineers there.

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