Apple, Intel up stakes in Imagination Technologies
Apple claims a 9.5% stake in the UK-based IP licensing company focused on processor cores for graphics, video, multithreaded embedded processing/DSP, and multistandard communications applications, while Intel now claims a 14% stake.
By Suzanne Deffree, Managing Editor, News -- EDN, June 26, 2009
Apple Inc has followed Intel Corp in increasing its stake in Imagination Technologies Group plc, a UK-based IP licensing company focused on processor cores for graphics, video, multithreaded embedded processing/DSP, and multistandard communications applications.
Imagination announced this morning that Apple has subscribed for 2.2 million new shares of the company at $2.36 (1.4275 pounds) per share, the mid market close price yesterday. Apple, already a licensee of Imagination's PowerVR graphics technology for use in the iPhone and iPod Touch, will have an ownership interest of 9.5% in the company with the share purchase. In December 2008, Apple subscribed for 8.2 million new shares of Imagination, giving it a then 3.6% stake in the company.
Apple's buy follows a mid-June move by Intel to purchase 25 million shares for a nearly 14% stake in Imagination, making it the second largest stakeholder in the company, according to reports. Also an Imagination licensee, Intel's Atom processor includes the company's PowerVR SGX graphics and PowerVR VXD multistandard HD video technologies, as part of the system controller hub.
That move by Intel came after the company in early June announced its $884 million acquisition of Wind River, targeted at the embedded systems and mobile handheld devices markets. Intel's Imagination stock subscription also came before the company this week announced a broad mobile alliance with Nokia that will see it develop a new class of Intel Architecture-based mobile computing device and chipset architectures for the top handset supplier's products.
Marvell, NXP, Samsung, and Texas Instruments are also among Imagination customers.
