Late last year, Imagination Technologies gained a few new investors: Apple and Intel. Imagination is the parent company of DAB radio set manufacturer PURE Digital, as well as a semiconductor System on Chip Intellectual Property (SoC IP) developer.
Apple uses Imagination PowerVR MBX graphics technology in its iPhone and iPod Touch. The company paid £3.19 million for a 3.6 percent stake in Imagination, leading to speculation that Apple might be looking for greater control over the development of iPhone graphics hardware.
A few days after the Apple announcement, Intel acquired additional shares in Imagination Technologies, raising its stake in the company to 3.04 percent. Intel also makes use of PowerVR technology in its Atom, CE 3100 and CE 2110 processors.
In its filing with securities officials, Intel stated that it would consider making a bid for ownership of Imagination Technologies if another company were to seek to acquire the firm.
Imagination, which is publicly traded on the London Stock Exchange as IMG, saw its share price open December at £0.4413 per share, fall as low as £0.3625 and then, after the Apple and Intel announcements, rise to close the month at £0.6472.