has been through a lot of change in the past few years. Founded in 1985, it became a real player in intellectual property designs for both processors and graphics chips.

But in 2017, Apple parted ways with Imagination, as far as licensing its mobile graphics chip designs. Imagination ended up in a legal battle with Apple and sold off its MIPS processor licensing business. In November 2017, the Canyon Bridge private equity firm acquired Imagination Technologies for $719 million and took it off the public markets.

But on January 2, Imagination unexpectedly announced that . It was vague, but it was reportedly so Apple could add real-time ray tracing graphics to its mobile devices. I spoke with the new leadership of Imagination at CES

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