Imagination Technologies announced Thursday that Apple has purchased a 3.6 percent stake in the company, which will only cost Apple 3.2 million pounds, or about $5 million. Imagination designs the PowerVR mobile graphics line of processors used for a variety of applications including mobile phones.
According to AppleInsider "Apple has subscribed to 8 million new shares of IMG, giving the iPhone maker a 3% stake in the firm" and it has licensed Imagination's technology.
Recognizing Apple as the mysterious "international electronics systems company" also helped explain why the company had acquired PA Semi, the fabless chip design firm launched by Dan Dobberpuhl in 2003. Steve Jobs later revealed that the PA Semi acquisition was indeed related to building chips for the company's iPod and iPhone mobile devices.