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%.
Apple ups stake in PowerVR maker Imagination
Charles Starrett
Charles Starrett was a senior editor at iLounge. He's been covering the iPod, iPhone, and iPad since their inception. He has written numerous articles and reviews, and his work has been featured in multiple publications.