Imagination Technologies extends its multi-year licensing agreement with Apple; shares surge

Imagination Technologies Group has announced that Apple has extended its multi-year, multi-use license agreement, which gives Apple access to Imagination’s wide range of current and future PowerVR graphics and video IP cores.

Under the terms of the above licensing arrangement, Imagination will receive on-going license fees, and royalty revenues on shipment of SoCs (Systems on Chip) incorporating Imagination’s IP.

About Imagination Technologies

Imagination is a global technology leader whose products touch the lives of billions of people throughout the world. The company’s broad range of silicon IP includes the key multimedia, communications and general purpose processors needed to create the SoCs (Systems on Chip) that power all mobile, consumer, automotive, enterprise, infrastructure, IoT and embedded electronics. These are complemented by its unique software and cloud IP and system solution focus, enabling its licensees and partners get to market quickly by creating and leveraging highly differentiated SoC platforms. Imagination’s licensees include many of the world’s leading semiconductor manufacturers, network operators and OEMs/ODMs who are creating some of the world’s most iconic and disruptive products.

Source: Imagination Technologies Limited

Jamie Ashcroft reports for Proactiveinvestors, “Imagination Technologies (LON:IMG) shares advanced around 15% in early deals with the news that Apple has extended a multi-year licence agreement with the company.”

Full article here.

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