Imagination Technologies completes sales negotiations with HelloSoft
A deal has been reached that will see Imagination Technologies take over HelloSoft.
Imagination Technologies has completed sales negotiations with US company HelloSoft - a video and voice-over-internet firm - in a $47 million (£29.4 million) deal.
Following the completion of the agreement, Hossein Yassaie - chief executive of the UK-based processor technology manufacturer - said: "Having already worked together as technology partners for a number of years, I am delighted that the HelloSoft’s team has agreed to join forces with Imagination."
He noted that the acquisition would allow his business to combine its processing and multimedia capabilities with HelloSoft's technology, so it can deliver media to connected devices within homes, on mobiles or across enterprises.
Krishna Yarlagadda, founder and president of HelloSoft, stated he had been impressed with Imagination's vision and achievements and looked forward to contributing towards one of the leading companies in the industry.
Earlier this week, sales negotiations between Carpathian and IntReal resulted in the former company agreeing to sell three of its Polish assets to IntReal for €40.2 million (£34.2 million).