Imagination may sell Pure

Imagination Technologies is considering a sale of its Pure digital radio business, a cut-back in its R&D spend and a sale and leaseback of its HQ, reports The Sunday Times.

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Pure is expected by analyst to lose £4.4 million this year.

Imagination’s share has halved in the last three months to 122p and, in the half year to October, the loss was £22.7 million on sales of £71.1 million.

Intel, which had a 15% stake in Imagination, sold 10% in June 2014 and the remaining 5% last February.

In November 2012, Imagination paid $60 million for MIPS.

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