Imagination Technologies on track

Chip designer Imagination Technologies said it has continued to see growing interest in its technologies across many partners and markets in the period from 1 November 2009 to 19 March 2010.So far this financial year, the group has concluded a number of licensing agreements and is currently progressing a 'significant' number of 'sizable' agreements with both existing and new partners. Imagination Technologies said it has seen a marked increase in business engagements in the current quarter. This has led to a significant number of licensing agreements that are in advanced negotiation and/or contractual stage, it added.The group reiterated it previous estimate for a total unit shipment of around 200 million during our next financial year 2010-11. "The group remains well on track for further good growth, based on the growing and active licensing pipeline, the continued chip volume momentum and royalty revenue growth, together with PURE's strong product line-up and the emerging overseas opportunity," Imagination Technologies said."Whilst the macro economic volatility and its influence on consumer spending is outside our direct control, and the precise timing of licensing deal closure is difficult to predict, the board remains confident that the group is well placed and will continue its solid progress in line with expectations."