Intel increases stake in graphics cores provider Imagination

LONDON — Intel Corp. has said it has no intention of making an offer for Imagination Technologies Group plc (Kings Langley, England) a licensor of graphics processing cores, despite buying 25 million shares in the company and grabbing nearly 14 percent of the company.

Intel said it made the purchase through its wholly-owned subsidiary Intel Capital Corp. and now holds 31,970,422 shares representing 13.99 percent of Imagination Technologies Group plc's total issued voting rights.

Intel has licensed several generations of Imagination's graphics and video processor cores for use in its PC, mobile computing and consumer architectures. "Intel Corporation values its continued relationship with Imagination Technologies Group plc and the use of Imagination's technologies by an industry-wide customer base," the company said in a statement.

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