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PowerVR ~ Imagination Technologies Announces Expanded Multimedia Collaboration with Intel and Investment from Intel Capital
Imagination Technologies Announces Expanded Multimedia Collaboration
with Intel and Investment from Intel Capital
2 October 2006
Imagination Technologies Group plc - a leader in System-on-Chip
Intellectual Property ("SoC IP") - today announces that it has
reached a new major collaboration agreement with Intel Corporation ,
which extends the licensing and deployment of its graphics and video IP
cores for use with Intel's PC, mobile computing and consumer
architectures in certain segments.
Imagination also announces an investment by Intel Capital, the venture
capital arm of Intel. Intel Capital will invest £5.28m in Imagination,
subscribing for 6,000,000 new ordinary shares of Imagination's share
capital (representing 2.9 per cent. of issued share capital prior to
such issue) at a price of 88 pence per share, being the closing price
on the London Stock Exchange on Friday 29 September 2006.
Arvind Sodhani, President of Intel Capital, says: "Intel Capital's
investment recognizes the importance of graphics, video, and display
technologies for the PC, mobile computing and consumer markets. This
investment together with the ongoing collaboration between Intel and
Imagination will expand these capabilities bringing the benefits of
enhanced graphics and video to customers around the world."
Anand Chandrasekher, Sr. Vice President, General Manager Ultra Mobile
Group - Intel, added: "Imagination has a wide range of significant
and market-leading graphics and video IP cores, together with a team of
highly respected engineers with many years experience of embedded
multimedia. Intel highly values our collaboration with Imagination
Technologies in the development of industry-leading multimedia
capabilities for future PC and consumer products."
Hossein Yassaie, CEO, Imagination Technologies says: "Our
relationship with Intel, the world's largest semiconductor company,
has reached a new stage that will see the companies working together to
enable a growing range of Intel processors with Imagination's
industry-leading graphics and video capabilities. We are delighted to
continue and extend this relationship with Intel for our new generation
of PowerVR graphics and video cores."
Under the terms of its licensing arrangements Imagination receives
license fees and royalty revenues on SoCs incorporating Imagination's
IP shipped by partners.
Application for the new shares to be admitted to trading on the London
Stock Exchange and the Official List of the UKLA is being made, with
listing and admission of those shares anticipated to be by the end of
About PowerVR Visual IP Cores
PowerVR IP cores for graphics, video and display seamlessly integrate
to enable the design of state-of-the-art system-on-chip (SoC)
The PowerVR SGX family are Imagination Technologies' next generation
shader-based graphics and video technology cores. With state-of-the-art
support for 2D and 3D acceleration PowerVR SGX has an industry-leading
feature set that exceeds OpenGL 2.0 shader and Microsoft Vertex and
Pixel Shader Model 3 requirements. PowerVR SGX cores also perform
video/image decode and encode processing for a wide-range of standards.
PowerVR video cores support a wide range of compressed video formats
including MPEG-1, MPEG-2, MPEG-4, H.264, WMV, and VC-1 for single and
multiple streams from SD to HDTV formats. PowerVR display cores provide
high-quality scaling, overlay and blending, interlace to progressive
video conversion and interlace output with flicker filtering.
About Imagination Technologies
Imagination Technologies Group plc - a leader in SoC IP - develops,
licenses and supplies market-leading graphics, video and display cores,
real-time multi-threaded DSP/RISC processors and communication and
broadcast technologies for the mobile, consumer, automotive and PC
markets. It supplies licensable IP (Intellectual Property) supported by
advanced development tools to leading semiconductor and consumer
electronics companies worldwide. Imagination Technologies Group plc has
its corporate headquarters in the United Kingdom and is publicly traded
on the London Stock Exchange . See: www.imgtec.com.
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