Imagination Tech owner tells UK the company will remain in Britain

Private equity firm Canyon Bridge, the Chinese-backed owner of Imagination Technologies, told the British government it was committed to keeping the chip designer headquartered in the UK, confirming an earlier Reuters report.

After a meeting with Culture Minister Oliver Dowden, a Canyon spokesman said: "Representatives from Imagination Technologies and its owners Canyon Bridge had a constructive meeting."

"We discussed our ongoing commitment to Imagination Technologies as a UK headquartered business and have agreed to maintain dialogue with the Secretary of State as we further build out our senior management team," the spokesman said.