Imagination Tech in Toshiba deal

British microchip designer Imagination Technologies said yesterday it had signed a contract with electronics giant Toshiba, which will see the Japanese giant use Imagination’s designs in its own chips. The contract win will come as a boost to the company ahead of its annual results announcement next week. Concerns over Imagination’s ability to sign lucrative new deals has weighed on the company’s share price in recent months and despite the announcement, shares fell five per cent yesterday.

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