Biz (2599)

Intel ups stake in Imagination Technologies

After Apple acquired a stake

24 December 2008 10:46 GMT / By Amy-Mae Elliott

After Apple bought a 3.6% stake in UK-based Imagination Technologies, a chip-making company that owns the Pure radio brand, Intel increased its own stake in the firm.

One day after Apple's purchase, Intel responded by buying 934,422 shares in Imagination, raising its total stake to 6,934,422 shares, or 3.04%.

Imagination makes a chip that provides the graphics for Apple's iPhone 3G, as well as other products.

Although Intel has said "it has no current intention to make an offer for Imagination Technologies", in a statement filed with the London Stock Exchange, Intel warned it would bid to acquire Imagination if another company tried to do so.

Full tags

Biz, Intel, Imagination Technologies, Apple, Acquisitions