Intel is about to jettison its stake in Imagination Technologies. That’s according to JP Morgan Securities, which has caught wind of the move and shared some specifics about it. Dow Jones Business News has the story:
Intel Foundation will offer 13.4 million shares, or about 4.9% of Imagination, for sale and that it and Intel Capital will both no longer have any shares in the company if all shares are sold, JP Morgan Securities said.
Based in the UK, Imagination Technologies is the company behind the PowerVR graphics IP. PowerVR graphics are found in everything from Apple’s A-series SoCs to some of Intel’s Atom processors.
Intel first purchased its stake in Imagination back in October 2006, coinciding with an extension of its licensing agreement with the company. PowerVR graphics were originally used across the entire Atom lineup, but they’re now restricted to “Moorefield” Atom chips for phones and small tablets.
Intel’s rumored divestment could mean the chipmaker intends to abandon PowerVR altogether. Moorefield’s successors might therefore end up equipped with homebrewed Intel graphics, just like Bay Trail is today.
PowerVR graphics will carry on inside other processors, including Apple’s. AppleInsider points out that Apple, also an Imagination stakeholder, renewed its agreement with the British firm last year. Imagination has apparently let slip that the new agreement “spans multiple years and covers a variety of uses.”