Intel matches Apple in Imagination stakes

 

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By Stuart Turton

Posted on 23 Dec 2008 at 14:23

Intel has announced that it has upped its investment in UK-based Imagination Technologies, just a day after Apple made a similar move.

Imagination Technologies developed the PowerVR technology used in the 3G iPhone's graphics chips, though Intel also licenses the technology for its Atom processors.

In a veiled warning to Apple, Intel also stated that it would consider an outright bid for the company if a competitor tried to snap it up.

In a statement to the London Stock Exchange, Intel announced that it had acquired 934,422 shares in Imagination through Intel Capital, raising its total stake in the company to 3.04%.

The bid mirrors Apple's earlier investment, which brought its stake to 3.06%, and sent Imagination Technologies' share price rocketing by 21%.