Apple ups stake in PowerVR maker Imagination

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Apple ups stake in PowerVR maker Imagination

Apple has more than doubled its stake in U.K.-based Imagination Technologies, a new regulatory statement has revealed. The Street reports that Apple is boosting its ownership share in Imagination—which designs the PowerVR graphics chips found in the iPhone and iPod touch—from 3.6% to 9.5% via a combination of share placement and stock purchases. Apple first purchased 8.2 million shares, or a 3.6% ownership interest, in December; Intel also owns a stake in the company, and recently increased its ownership position to 16%.

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