Apple To Buy Additional 2.2 Million Shares of Imagination Technologies

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Date: Friday, June 26th, 2009, 04:45
Category: Hardware, News

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Apple may be expanding in component companies once again, as Macworld UK is reporting that Apple has upped its stake in British outfit Imagination Technologies, the London-based company that developed the technology used in the 3G iPhone’s graphics chips

Imagination Technologies has stated that Apple is to acquire 2.2 million of its shares at £1.4275 (about US$2.351 per share.

Apple already owned shares in Imagination’s technology. On 18 December 2008, Imagination revealed in a filing with the London Stock Exchange that Apple acquired 8,200,000 shares, equal to a 3.6% stake in the company.

London-based Imagination Technologies develops intellectual property found in systems-on-chip (SOCs), including its Meta processor cores and PowerVR graphics engines.

A graphics chip based on PowerVR provides the graphics for Apple’s 3G iPhone and other companies, including Samsung Electronics and Intel, have licensed Imagination’s graphics technology.

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