Imagination signs license agreement with Toshiba

At the recent IMS CC (ie. the one with the illogical statement and irate analysts) the CEO HY pointed to imminent agreements with new partners which were 'significant and strategic' in nature. The first of the new partners were revealed today , household name Toshiba (an existing MIPS licensee):

Imagination signs license agreement with Toshiba for range of Imagination’s technologies

Imagination Technologies (LSE: IMG.L), a leading multimedia, processor, communications and cloud technologies company, reports that it has signed a license agreement with Toshiba Corporation (TOKYO: 6502) for a range of technologies from Imagination’s Ensigma connectivity and PowerVR graphics and video families.

Toshiba will deploy the technologies in a range of connected SoC (system on chip) devices targeting several consumer electronics markets.

Under the terms of its licensing arrangements, Imagination receives license fees and royalty revenues on shipment of SoCs incorporating Imagination's IP.

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Well done IMG.

Clearly a big license win, which ideally should have closed in FY 13, but instead gets FY 14 off to a good start. Hopefully we'll get more new significant partners announced shortly.

HY has been in the press quite a bit of late , such as this article in the Telegraph;

http://www.telegraph.co.uk/finance/newsbysector/epic/arm/10108809/Imagination-targets-ARMs-smartphone-chip-monopoly.html

The target is 20-30% of new CPU design wins (excl. PC) within 5 years.