Imagination investors approve sale to China-backed fund

LONDON (Reuters) – Imagination Technologies shareholders approved a 550 million pound ($730 million) cash takeover by China-backed Canyon Bridge on Tuesday, a day after the buyout firm’s founder was charged by U.S. authorities with insider trading.

The headquarters of technology company Imagination Technologies is seen on the outskirts of London, Britain, June 22, 2017. REUTERS/Hannah McKay

Canyon Bridge’s offer to buy the British chip designer was announced on Sept. 22, a week after its bid to buy Lattice Semiconductor Corp was blocked by U.S. President Donald Trump over national security concerns.

Canyon’s founder Benjamin Chow was charged on Monday with insider trading in a case related to the attempted U.S. deal.

However, a spokeswoman for Canyon said on Tuesday that the Imagination deal would not be jeopardized by the allegations, adding that Chow denies wrongdoing and intends to defend the case in court..

Canyon’s takeover bid values the troubled company at 182 pence per share, a near 42 percent premium to Imagination’s closing price on Sept. 22. It was put up for sale after its shares fell 70 percent in April when Apple, its biggest customer, said it would stop using its graphics technology.

A court hearing to approve the Imagination takeover, which was agreed only days after the Committee on Foreign Investment in the United States rejected Canyon’s proposed $1.3 billion acquisition of Lattice, is expected to be held on Nov. 6.

Following Trump’s decision to bar Canyon Bridge from buying Lattice, the British government said it wanted more say over deals in the military and technology sectors, making proposals to tighten Britain’s existing takeover rules.

Canyon Bridge was founded by Chow with capital originating from China’s central government and had indirect links to Beijing’s space program.

The Acting United States Attorney for the Southern District of New York and the Federal Bureau of Investigation alleged on Monday that Chow had conspired to commit securities fraud by sending information regarding the Lattice bid to an unnamed friend and former colleague.

($1 = 0.7534 pounds)

Reporting by Ben Martin and Pamela Barbaglia; Editing by Greg Mahlich and Alexander Smith

Our Standards:The Thomson Reuters Trust Principles.

VEXXHOST Announces Their Annual Holiday Web Hosting Specials

This web hosting plan offers all the necessary features for all types of clients, from starter to advanced developers. Backed up by VEXXHOST’s anytime money back guarantee and price freeze guarantee, this web hosting plan makes starting a website easier than ever. – 2010-12-21 – VEXXHOST.COM, one of the leading web hosting providers, announced the release of their holiday web hosting specials.  With savings of 75%, the web hosting plan, priced at $2.55 per month, offers unlimited disk space, unlimited monthly transfer (bandwidth), daily backups, free site builder and includes a free domain name with prepaid packages.

This web hosting plan offers all the necessary features for all types of clients, from starter to advanced developers.  Backed up by VEXXHOST’s anytime money back guarantee and price freeze guarantee, this web hosting plan makes starting a website easier than ever.

This announcement comes after VEXXHOST numerous new partnerships with large site optimizers such as CloudFlare, an advanced cloud based system that accelerates your website and secures it.  Also, a recent new partner, Attracta, which offers search engine optimization utilities (valued at $60 per year) for free to their web hosting customers.

VEXXHOST is a private debt-free company based in Montreal, Canada. The strategic location of their datacenter located in a centralized location between the United States, Europe & western Canada allows for low latency and high transfer speeds. VEXXHOST offers the latest enterprise and stable technologies to their clients at low cost. Starting from shared web hosting, semi-dedicated web hosting, reseller web hosting all up until cloud hosting. Their high quality service coupled with their affordable pricing makes them a high contender in a saturated market.

New VEXXHOST FFMPEG Hosting Pricing Increases Access To Advanced Video Sharing Features

VEXXHOST, one of the leaders in FFMPEG hosting industry, has announced an important modification to their shared web hosting pricing.   They have changed their pricing to one set price for one fully featured web hosting plan.  The new price changes make them one of the lowest priced hosting services at $2.55 per month.  They continue to offer all types of advanced features within this hosting service such as FFMPEG.

Their new only plan offers a fully featured unlimited plan that offers everything from unlimited space, bandwidth and hosted domains at a very low rate.  It also includes video sharing features such as FFMPEG and MEncoder/MPlayer.  All of this remains in their facilities hosted in Montreal, QC, Canada where they run a fully redundant systems.

VEXXHOST was one of the first web hosting companies to adapt the FFMPEG features into its web hosting services so anyone can start their own proper video sharing website, there are numerous scripts that are made for video sharing sites and they are all supported by VEXXHOST.  They also provide assistance in setting it up on any of their other products.

The introduction of the new pricing scheme allows a larger audience to be able to start their new video sharing websites.  With no limits at all, they are assured to have the best platform ready for their constant expansion and they can also always upgrade to better performing dedicated or virtual servers.