Apple purchases more Imagination

Making news in the financial world today is the story of a small UK based chip designer who is being regarded by technology giants Intel and Apple as an integral investment. Imagination Technologies is based on Hertfordshire and is currently worth £240 million. They are a semi-conductor designing group which engineers chips that are found in portable devices such as laptops and smartphones. Last week, Intel purchased £20 million worth of shares ($25 million USD), increasing its stake to slightly less than 14%, and more recently increased that stake to slightly over 16%. Today, Apple announced that it is raising its stake in the company to 9.5% by purchasing 2.20 million new shares.