Mergers and Acquistions News
Categories: IT Services & Consulting
December 18th 2008, 16:13PM
Apple has increased its holding in UK-based Imagination Technologies to 3.6 per cent in a deal worth around £3.2 million.
The American electronics giant has agreed to acquire 8.2 million new shares in the chip manufacture for 39 pence each, the mid-market close price on December 17th 2008.
Application for the news shares to be admitted to trading on the London Stock Exchange and the official list of the UK Listing Authority.
Speaking to Reuters, Dan Ridsdale, analyst at Teathers, stated that the move is "a positive endorsement of Imagination's intellectual property".
However, he claimed that the move is "very unlikely" to lead to a takeover as Intel has a stake in Imagination and the firm has also has a wide licensee base.
Last week, Lenovo, the fourth largest computer manufacturer in the world, announced that it is looking at a range of options which could include acquisitions, although it stated it had not entered into negotiations.
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