In mid-2017 Apple stated that they began working with Imagination in 2007 and stopped accepting new IP from them in 2015. After lengthy discussions Apple advised the UK company on February 9, 2017 that they expected to wind down their licensing agreement since they needed unique and differentiating IP for their products. The news of Apple's decision to stop licensing Imaginations IP sent the company's stock price down 63.6% in a single day. The devastating blow led Imagination to swiftly begin a dispute resolution procedure one month later.

Today Imagination posted a short press release as follows: "London, UK; 2nd January 2020 – Imagination Technologies (“Imagination”) announces that it has replaced the multi-year, multi-use license agreement with Apple, first announced on February 6, 2014, with a new multi-year license agreement under which Apple has access to a wider range of Imagination’s intellectual property in exchange for license fees."

The press release added an overview of Imagination Technologies as follows: "Imagination is a UK-based company that creates silicon and software IP (intellectual property) designed to give its customers an edge in a competitive global technology market. Its graphics, compute, vision & AI, and connectivity technologies enable outstanding PPA (Power, Performance and Area), robust security, fast time-to-market and lower total cost of ownership. Products based on Imagination IP are used by billions of people across the globe in their phones, cars, homes, and workplaces. Imagination Technologies was acquired in 2017 by Canyon Bridge, a global private equity investment fund."

Neither Imagination Technology or Apple have revealed what Apple will be licensing other than Apple having access to "a wider range of IP." The two new markets that Imagination has focused on in recent years is IP relating to powering Mixed Realty (VR and AR) headsets and Automotive including autonomous vehicles, areas of technology that Apple's patents reveal are major projects in-the-works (HMDs, Project Titan).