“In a surprise move today, Apple took a 3.6 percent stake in leading mobile system-on-chip graphics developer, Imagination Technologies. Apple took 8.2m shares in Imagination at 39p per share at a cost of £3.2m,” Jonny Evans reports for Distorted-Loop.
“The acquisition of the stake appears to confirm rumours that Apple was the ‘international electronics systems company’ mentioned in Imagination’s 4 September announcement about a multi-year, multi-use licensing agreement for use of Imagination’s current and future POWERVR graphics and video intellectual property cores,” Evans reports. “These technologies – already used in iPhone – offer excellent graphics and performance at very, very low power.”
Evans reports, “The current iPhone model and most other mobile devices use a version of the PowerVR MBX graphics processor core … Imagination’s next generation graphics core, the PowerVR SGX, introduces OpenGL ES 2.0 support, along with a Universal Scalable Shader Engine that provides mobile devices with highly efficient, shader-based 3D graphics.”
Evans reports, “With the built in processor expertise of PA Semi already in the frame, it’s highly probable Apple’s investment in Imagination Technologies reflects the importance of its mobile plans, and likely also reflects just how close to market products enabled by this multi-company development effort have become.”
Full article here.
Imagination Technologies press release, verbatim:
Apple Inc. is subscribing for 8,200,000 new shares of Imagination Technologies Group plc (LSE: IMG) at 39p per share, the mid market close price on 17 December 2008, subject only to listing and admission of the new shares. Following the share placement, Apple will have an ownership interest of 3.6%. Apple is a licensee of Imagination’s technology. Application for the new shares to be admitted to trading on the London Stock Exchange and the Official List of the UKLA has been made and it is expected that listing and admission of those shares will occur by 8am today.
Source: Imagination Technologies Group