Intel to sell its stake in Imagination Technologies

Posted on Friday, February 13 2015 @ 14:14 CET by Thomas De Maesschalck

JP Morgan revealed Intel is planning to sell its stake in Imagination Technologies:

Semiconductor giant Intel Corp's ( INTC ) Intel Foundation is planning to sell its stake in U.K. chipmaker Imagination Technologies Group PLC (IMG.LN), JP Morgan Securities PLC said Thursday.

Intel Foundation will offer 13.4 million shares, or about 4.9% of Imagination, for sale and that it and Intel Capital will both no longer have any shares in the company if all shares are sold, JP Morgan Securities said.

Imagination, which specialises in graphics technology, makes chips for smartphones and other devices made by customers including Apple Inc (AAPL).

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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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