The move places the British-based company, which counts Apple among its most important customers, at the centre of government investigations on both sides of the Atlantic. The call for evidence was also prompted by fears the Chinese owners intend to relocate the company’s technology patents to China. These are external links and will open in a new window. We urge you to turn off your ad blocker for The Telegraph website so that you can continue to access our quality content in the future. Two more of Imagination Technologies' top executives have submitted their resignations in protest at moves by a state-owned Chinese investor to seize control of its board, further destabilising one of Britain's most important technology companies. He said last week that officials were "working with their counterparts in the departments for Business, Energy, and Industrial Strategy, the National Cyber Security Centre, the Foreign Office, and Cabinet Office as a matter of urgency to understand the facts". There is no suggestion that Huawei is directly connected to Imagination, or its ultimate owners - the state-owned China Reform investment fund. A Message About COVID-19 From Imagination Technologies' CMO. There's no point in taking back control from Brussels, only to hand it over to Beijing.". Imagination is among the companies which have been asked to appear before the committee for its inquiry into foreign asset stripping. Since then, however, there have been signs that China Reform wanted to take a more active role in the company - something which is understood to have ramped up in recent weeks after Imagination struck a new supplier deal with Apple. These included “whether we have not done enough to protect our national interest, and allowed China to have a very one-sided relationship with the West”. The call for evidence comes a day after EU competition chief Margrethe Vestager warned that companies across the EU - many of which have been or are being pushed the brink of bankruptcy by the economic effects of Coronavirus - are vulnerable to takeover from Chinese companies. The board appointments were postponed after growing pressure from MPs, including from Culture Secretary Oliver Dowden, although days later three senior executives left the company, including chief executive Ron Black. “We can’t allow extensions of the Chinese state to control strategic assets in the UK and that’s what this is.”, Speaking on the Today programme, Tom Tugenghat, who chairs the Foreign Affairs Select Committee, said: "Whoever writes the code, writes the rules for the world, more than any regulation passed by bureaucrats. Ray Bingham, Imagination's chairman and now interim chief executive, is understood to be trying to convince the pair to remain with the company. There's no point in taking back control from Brussels, only to hand it over to Beijing.". One source said that Mr Evans' letter of resignation informed the company that he had "taken this decision after carefully considering the current situation with regards to the independence of our business and the future of our staff". The management crisis - which means that one-third of Imagination's executive management team is set to leave - has been triggered by an attempt by China Reform Holdings to nominate a slate of directors to the Hertfordshire-based company's board. He added that his decision would be "of no surprise to Canyon Bridge and China Reform after the very frank exchanges we have had with them over the recent months". Our Bluetooth Low Energy Audio solution is designed for applications such as broadcast, high-quality multi-stream audio and hearing aid support. Find out more, The latest offers and discount codes from popular brands on Telegraph Voucher Codes, Imagination has been under the control of Canyon Bridge, a private equity firm whose largest investor is Chinese state-owned investment fund China Reform Holdings since 2017, Google opens up free listings on its Shopping tab to UK retailers. MPs are concerned that this could ultimately be used to find vulnerabilities in Western networks, and compromise them. Imagination Technologies was acquired by a US-based but Chinese state-owned investment firm called Canyon Bridge in September 2017, which is in turn owned by a Chinese state-owned investment fund called China Reform. Imagination said it “welcomed the opportunity to respond directly to any questions the Committee may have and address any misunderstandings”. China is using coronavirus as a cover to seize control of Imagination Technologies Senior executives including Ron Black, the chief executive, stepped down late last week He added that there were grounds for the Government to launch an “investigation and intervention”. Sky News revealed on Saturday that the Committee on Foreign Investment in the US - a powerful Washington national security body - had begun a probe into the crisis at Imagination. As well as designing graphics and virtual reality software for computer chips, industry experts say that Imagination also produces software which can detect whether any weaknesses in sensitive digital networks - so-called "backdoors" are the result of error or intention.
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