Imagination Technologies, former chip designer for Apple, has announced today that it’s selling the entire company, initiating a formal sale process.

Its stock price is climbing rapidly following the news — the first positive growth it’s seen since Imagination’s fall out with Apple in April. The British-based company said in a press release that several parties had expressed interest in buying them over the past few weeks but “there can be no certainty that any offer will be made for Imagination.”

This all comes just two months after Apple announced it would begin making graphics chip designs in house and cut off its reliance on Imagination within two years. This news dropped Imagination’s stock price to half of where it had been…

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