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Apple buys more Imagination Technologies shares

Posted on Saturday, June 27 2009 @ 03:14:36 CEST by

Last week Intel upped its stake in Imagination Technologies by 25 million shares to around 32 million shares, and today news reaches us that Apple has added a total of 13.7 million shares to its position in this UK graphics chip designer.
Just over six months after grabbing its first piece of Imagination Technologies, Apple has upped its stake in the British graphics IP company from 3.6% to 9.5%. Reuters says Apple has bought a total of 13.7 million new IMG shares.

2.2 million of those shares reportedly cost the iPhone maker £1.43 ($2.36) a pop, while the rest changed hands at an undisclosed price. If all new shares cost the same, then Apple must have spent a total of $32.3 million on the deal—not exactly pocket change, but still a small fraction of the $1.21 billion profits Apple posted last quarter.



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