Owner could put loss-making Pure Digital up for sale
Imagination Tech, the British chip designer whose shares are languishing at six-year lows after a profit warning in December, said it was reviewing strategic options for its loss-making Pure digital radio business.
Chief executive Hossein Yassaie has previously said Pure had wider value for Imagination as a test bed for its technology.
A report in the Sunday Times said the unit could be sold to cut costs and strengthen the group’s balance sheet.
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Hide Ad“Pure’s prime focus is now the growing digital radio market and its financial performance is improving rapidly,” the Apple-supplier said on Monday.
“The group is reviewing its strategic options for this business.”