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Intel increases stake in Imagination

Posted on Tuesday, December 23 2008 @ 17:58:58 CET by

Last week it became official that Apple has bought a 3.6 percent stake of Imagination Technologies, along with a PowerVR SGX/VXD license and yesterday Intel responded by increasing its own stake in the mobile graphics firm to 3.04 percent.

Furthermore, Intel filed a statement with the London Stock Exchange that it may bid to acquire Imagination if another company tabled an acquisition offer:
On Dec. 18, Imagination revealed in a filing with the London Stock Exchange that Apple acquired 8,200,000 shares, equal to a 3.6 percent stake in the company. The next day, Intel responded by acquiring 934,422 shares in Imagination through Intel Capital, raising its total stake to 6,934,422 shares, or 3.04 percent.

Imagination's shares closed 21 percent higher on Monday, up £0.11 to £0.64 per share.

In a statement filed with the London Stock Exchange, Intel warned it may bid to acquire Imagination if another company tabled an acquisition offer -- an apparent reference to Apple's interest in Imagination. At the same time, Intel said, "it has no current intention to make an offer for Imagination Technologies."



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