Following on from the news that it's spending up to $47 million to buy VoIP specialist HelloSoft, UK chip company Imagination Technologies has given notice it's on the look out for future deals.
To be funded by the placement of 12,208,950 new ordinary shares, or five percent of its share capital, Imagination has pointed out the 'proceeds will be used to fund certain complementary and strategic technology acquisitions, including the acquisition of HelloSoft'.
More specifically, it goes on to say that the cash will 'provide Imagination with the financial flexibility to execute one or more acquisitions of exciting bolt-on technologies which it has already identified to complement Imagination's graphics and visual IP capabilities'.
Sparking growth
Imagination's 3D graphics smarts are used in many smartphones including Samsung's Galaxy S and all iOS devices. Indeed, Apple has a 9.5 percent stake in the company.
"The HelloSoft and other acquisitions are part of our overall plans to continue to drive the group's development and growth," said CEO Hossein Yassaie.
"Our goals are consistent with developing Imagination as a top tier and globally influential technology provider in complementary silicon and software intellectual property areas that underpin current and future technological trends in mobile, consumer, enterprise and automotive segments."
Solid numbers
Further to the announcement, Imagination said its half year financials were in line with market expectations.
Its chip business had shipped around 100 million units in the six months to 30 October 2010, and had achieved good growth in licensing revenue and strong growth in royalty unit volume.
It will announce its full figures for the period on December 14.
[source: Imagination Technologies]
News
Contributing Editor
A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.
Related Articles
News
Jan 11th, 2023
Imagination Technologies reveals IMG DXT: an immersion-boosting GPU for mobile games
Top Stories
News
May 31st, 2024
Week in Views - Squad Busters goes global, broken app stores, and Hill Climb Racing gets the LEGO treatment
News
May 31st, 2024
Mobile Movers: All the latest appointments and job moves from around the industry
Events
Indie Game Fest & Indie Campus 2024 | Europe | May 31st |
Indie Craft K-Game Festival 2024 | Europe | May 31st |
BostonFig Online 2024 | Jun 1st | |
GameSummit Summer 2024 | Jun 1st | |
Gotland Game Conference 2024 | Nordic | Jun 3rd |
Games Mental Health Summit 2024 | Europe | Jun 3rd |
Dev Play Conference 2024 | Europe | Jun 3rd |
Tribeca Games Festival 2024 | North America | Jun 5th |