Given the timeline Eltech had likely been shut down for at least a year. Then Apple came around with their x86 to ARM translation layer, prompting Huawei to go shopping for a competitor, seeing the defunct Eltech, and buying their IP.
Sounds like a late happy ending for a failed company that was just a few years too early with their product. I hope the founders got a good deal.
...or Huawei strategically decided to take advantage of their vertical integration (with HiSilicon ARM chips), by moving its processors up the value chain into laptops, thereby capturing more profit instead of paying Intel/AMD? Such strategic decisions are usually years in the making - and everyone could see the trajectory of ARM vs x86 for years
ARM processors in laptops predates the M1 by many years - you don't need inspiration from Apple to figure out that efficiently running x86 code on ARM hardware is useful.
Sounds like a late happy ending for a failed company that was just a few years too early with their product. I hope the founders got a good deal.