Apple adds to Imagination Technologies stake

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The two American giants increased their stakes in UK chip designer Imagination Technologies this week, sparking rumours of a take over.

UK chip manufacturer Imagination Technologies has confirmed that Apple has increased its stake in the firm to 9.5 per cent following the purchase of 2.2 million shares at 143 pence, and a further 11.52 million at an undisclosed price.

Intel earlier this week increased its stake in the company through its acquisition of 30 million shares, securing 16 per cent.

Both firms have vested interests in the chip designer, with it becoming an increasing important supplier of market leading technology. Indeed, the stake building has led to speculation by analysts that both firms are buying up as many shares as they can to safeguard their future.

Apple’s implementation of Imagination’s PowerVR chips contributed significantly to the improved graphic performance of the new iPhone and iPod touch.

Intel licenses Imagination's graphics and video IP cores for its PC and mobile computing architectures.

Arvind Sodhani, President of Intel Capital, said earlier this week: "Intel Capital's investment recognizes the importance of graphics, video, and display technologies for the PC, mobile computing and consumer markets."

He added: “This investment together with the ongoing collaboration between Intel and Imagination will expand these capabilities bringing the benefits of enhanced graphics and video to customers around the world."

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