Intel, Apple up stakes in Imagination Technologies

Both Intel and Apple have further upped their stakes in UK-based chip maker Imagination Technologies.

Last December Apple took a 3.6% stake in the company that owns the Pure Digital brand, a move that saw Intel up its existing stake to just over 3%.

This year, it was Intel making the first move by increasing its stake in Imagination Technologies to 16% with the purchase of 30 million shares.

Apple, on the back foot this time round, has now bought another 2.2 million shared for £3.14 million, in turn upping its stake to 9.5%.

Imagination Technologies developed the PowerVR mobile phone graphics tech, with a chip based on this technology currently thought to be powering the iPhone 3G.