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Intel buys another 25 million shares of Imagination

Posted on Friday, June 19 2009 @ 19:40:29 CEST by

Hexus reports Intel has increased its stake in Imagination Technologies by buying 25 million shares. This is the second time in a half year that the chip giant bought shares of the UK chip designer.
Intel already uses Imagination IP in some of its consumer electronics products, but it's thought that the main interest for Intel is in incorporating Imagination graphics designs into its future mobile phone chipsets.

This share acquisition takes Intel's total shareholding in Imagination to around 32 million, which equates to 14 percent of the total issued voting rights in the company. However Intel has said it has no plans to acquire the whole company, of which a 3.6 percent stake is also owned by Apple, citing only ‘strategic reasons' for the acquisition.



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