MPs summon Imagination Technologies executives over alleged attempts to transfer British firm's ownership to China

The US government has also ordered an urgent probe into the matter

British MPs have summoned senior executives of Imagination Technologies to answer questions surrounding possible transfer of the UK-based technology firm to China.

According to the BBC, executives of the firm have been asked to meet a group of MPs on Tuesday to clarify their position on this entire episode.

British lawmakers are worried over recent efforts from China Reforms Holdings, the leading investor in Imagination Technologies, to take control of British chipmaker and to transfer the ownership of sensitive intellectual property to China.

Last week, senior MPs had alerted the government over possible attempt from the Chinese company to appoint its four representatives as directors in Imagination's board.

Imagination Technologies is one of the leading technology firms in Britain. It is known for creating graphics processing units (GPUs) for multiple companies including Samsung and Apple. In 2017, Imagination Technologies was sold for £550m to private equity business Canyon Bridge Capital Partners.

Tom Tugendhat, chair of the Foreign Affairs Select Committee, told the BBC that he was worried that the technology developed by the British firm could be used in future to fine tune the design of "backdoors" into critical digital infrastructure.

"The world has changed and companies - particularly tech companies - are on the frontline," said Mr Tugendhat.

"Whoever writes the code, writes the rules for the world, more than any regulation passed by bureaucrats. There's no point in taking back control from Brussels, only to hand it over to Beijing."

On Sunday, the US government also ordered an urgent probe to uncover the true intentions of the China Reforms Holding.

According to Sky News, the probe will be conducted by the Committee on Foreign Investment in the US (CFIUS), which had earlier blocked the Canyon Bridge's takeover of Lattice Semiconductors in 2017.

CFIUS is said to have written a detailed letter to the Canyon Bridge, asking it to clarify its position on the issue.

Last week, three senior executives of Imagination Technologies, including CEO Ron Black and chief product officer Steve Evans, also stepped down, citing concerns about the future direction of the company.

"I will not be part of a company that is effectively controlled by the Chinese government," Mr Evans reportedly said in his resignation letter.

John Rayfield, chief technical officer, also resigned from his job just 48 hours after the departure of Ron Black.

According to Sky News, Mr Evans and Mr Rayfield had indicated that they could reconsider their decisions if the Chinese attempt to seize control of the company was abandoned.