Imagination wins TV deal

BRITISH microchip designer Imagination Technologies has signed a licensing deal with Taiwanese technology company MediaTek, which will see Imagination’s designs used in some of the Asian firm’s digital TV products.

The deal is expected to be worth single-digit millions, but is a crucial vote in confidence, Jefferies analyst Lee Simpson said, following recent market sentiment suggesting Imagination was losing out to rival ARM Holdings. Imagination shares rose nearly five per cent yesterday.