Imagination 2.0 Update Ships

Profits expected this year after reorg

Rick Merritt, EETimes
9/26/2016 10:45 AM EDT

SAN JOSE, Calif. — The MIPS core will be used in a new cellular baseband processor shipping next year and a supercomputer in the works in Japan. The two data points are welcome news at Imagination Technologies as it puts the finishing touches on a reorganization and reflects on directions in licensing.

Earlier this year the company, which also designs PowerVR cores used in Apple iPhones, posted its biggest loss ever, prompting its chief executive to leave the company. New CEO Andrew Heath has plans by the end of the year to sell three business units that should get the company back in the black.

Sales of the Pure digital-audio broadcast unit, Hellosoft and an SoC design services group will bring in less than $10 million and take the company’s headcount down to about 1,200. “That puts us at an opex level paid for by our royalty stream with licensing revenue taking us above that and making us profitable this year,” said Heath, a former non-executive director of the company.

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