Beleaguered Imagination Technologies (IMG) appears to be preparing for battle. The tech group has put its two secondary business divisions up for sale in what seems like an attempt to shore up its balance sheet.
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In April, Imagination lost £500m of its market capitalisation after it revealed Apple (US:AAPL) - which contributes half of its overall revenue - will stop licensing its Power VR graphics component in future models of the iPhone. Management has failed to "make satisfactory progress" in its attempts to form a new commercial relationship with the US tech giant and has now commenced a dispute resolution procedure.