🏹UK chip designer Imagination bought by Chinese firm .
UK technology firm Imagination, which designs graphics chips for smartphones, is being bought for £550m by a Chinese-backed investment firm.
Imagination put itself up for sale in June after Apple, its largest customer, said it would stop using its products.
Last year, ARM, which designs microchip technology used in Apple and Samsung smartphones, was bought by Japan’s Softbank for £24bn. BBC News