It looks like the Chinese government is trying to take overt control of Imagination Technologies. SemiAccurate has been hearing rumors of this for almost a week and now it appears to be trickling out into the open.
While we can’t confirm all of the bits floating around, what we have confirmed is that we were told the Chinese government is effectively stacking the board of Imagination and trying to run the company instead of just owning it. The reasoning is to effectively move the company to China and control the IP in country, likely as a direct result and counter for the technology blockades of the Trump administration.
No matter what the reasons for the move, it is guaranteed to go over like a lead balloon and fund several oversized yachts among the British solicitor community before all is said and done. Also given the timing of the move, it is hard to come to any conclusion other than the Chinese government knew it would not go over well right now, so probably a smart move on their part. One thing you can expect is a long messy fight before this is over.
In any case the root cause of this impending debacle is Trump’s cutting off Chinese companies from American tech. They now have no other choice but to do it on their own with their own IP, either home grown or purchased. These ‘sanctions’ on Huawei among others are the most own-goal that the Trump administration could have accomplished and they will unquestionably end the dominance of the western tech companies. Imagination Technologies’ takeover is only the beginning of our end.S|A|
Charlie Demerjian
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