Apple shows more interest in Imagination

Posted

British firm Imagination Technologies said that Apple has bought more shares in the company.


That means that Apple now owns 9.5 percent in Imagination, a company that produces the graphics technology that's used in the iPhone.


Imagination produces the PowerVR range of components, and licenses its technology to third parties, such as Apple.


The additional shareholding is part of an Apple move to forge its own semiconductor destiny - Apple's acquisition of PA Semi means that it can design components that can then be manufactured by Samsung.


But Apple isn't the only US company interested in Imagination. Intel licenses its technology and owns 16 percent of the firm.


Shares of Imagination rose on the news.