Apple and Intel increase their Imagination stakes

Apple almost triples its stake in the Imagination Technologies, which provides graphics technology for the iPhone.

Apple has almost tripled its stake in the Hertfordshire-based company Imagination Technologies, which provides graphics technology for the iPhone.

Imagination sold 2.2 million shares to Apple last week. Added to another 11.5 million shares bought on the open market around the same time, Apple now has a stake of around 9 percent in Imagination--it first bought shares in the company last December, when it paid US$5.2 million for a 3.6 percent stake

.

Apple's investment in Imagination is, however, much less than that of Intel--earlier this month, Intel increased its own stake to around 16 percent.

In both Apple and Intel's cases, many of the acquired shares are believed to have come from Imagination's major backer, the currently debt-ridden Saudi investment firm Saad.

Intel announced it was teaming up with Nokia in a major push into the handheld computing market, taking it up against rivals including Apple.

Newsletters

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
See All
See All