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The Company was founded in 1985 as ''VideoLogic'' and originally focused on [[graphic]]s, sound [[acceleration]], home [[audio system]]s, video-capture and [[video-conferencing]] systems.<ref name=analyst>[http://www.leavcom.com/imgtec_070908.htm Analyst Report] 9 July 2008</ref>
The Company was founded in 1985 as ''VideoLogic'' and originally focused on [[graphic]]s, sound [[acceleration]], home [[audio system]]s, video-capture and [[video-conferencing]] systems.<ref name=analyst>[http://www.leavcom.com/imgtec_070908.htm Analyst Report] 9 July 2008</ref>


It was first listed on the [[London Stock Exchange]] in July 1994.<ref>[http://www.londonstockexchange.com/exchange/prices-and-news/stocks/summary/company-summary.html?fourWayKey=GB0009303123GBGBXSSMM London Stock Exchange]{{dead link|date=November 2013}}</ref> The following year it entered into a licensing agreement over its PowerVR technology with [[NEC]] (now [[Renesas]]) who took a 2.29% stake in the Company for £1.6 million and acquired the rights to manufacture and sell the chip.<ref>[http://findarticles.com/p/articles/mi_m0EIN/is_1995_March_27/ai_16705486/ NEC Announces Investment in VideoLogic; Companies Sign Joint Development and License Agreement on Advanced 3D Games and Virtual Reality Technology] Business Wire, 27 March 1995</ref> On 2 December 1997, NEC subscribed 2.3 million (1.5%) new shares at a price of 56.5p, taking its total stake to 3.5%.<ref>NEC ups Videologic stake, Computer Business Review, 2 December 1997</ref> In 1999 the Company refocused on intellectual property [[licensing]] generally and changed its name to ''Imagination Technologies''.<ref name=analyst/>
It was first listed on the [[London Stock Exchange]] in July 1994.<ref>[http://www.computrad.co.uk/ IT Support London]</ref> The following year it entered into a licensing agreement over its PowerVR technology with [[NEC]] (now [[Renesas]]) who took a 2.29% stake in the Company for £1.6 million and acquired the rights to manufacture and sell the chip.<ref>[http://findarticles.com/p/articles/mi_m0EIN/is_1995_March_27/ai_16705486/ NEC Announces Investment in VideoLogic; Companies Sign Joint Development and License Agreement on Advanced 3D Games and Virtual Reality Technology] Business Wire, 27 March 1995</ref> On 2 December 1997, NEC subscribed 2.3 million (1.5%) new shares at a price of 56.5p, taking its total stake to 3.5%.<ref>NEC ups Videologic stake, Computer Business Review, 2 December 1997</ref> In 1999 the Company refocused on intellectual property [[licensing]] generally and changed its name to ''Imagination Technologies''.<ref name=analyst/>


On 23 March 2000, Imagination Technologies acquired Ensigma, a private company specialising in Digital Signal Processing, for a maximum consideration of £5 million.<ref>[http://www.highbeam.com/doc/1G1-60584809.html Imagination Technologies buys Ensigma]{{dead link|date=November 2013}}</ref>
On 23 March 2000, Imagination Technologies acquired Ensigma, a private company specialising in Digital Signal Processing, for a maximum consideration of £5 million.<ref>[http://www.highbeam.com/doc/1G1-60584809.html Imagination Technologies buys Ensigma]{{dead link|date=November 2013}}</ref>

Revision as of 13:38, 11 February 2014

Imagination Technologies Group plc
Company typePublic company
LSE: IMG
IndustryTechnology
Founded1985
Headquarters
Kings Langley, Hertfordshire
,
UK
Key people
Geoff Shingles (Chairman)
Sir Hossein Yassaie (CEO)
John Metcalfe (COO)
Products
Revenue£127.5 million (2012)[1]
£28.4 million (2012)[1]
£20.5 million (2012)[1]
Number of employees
900 (2011)[1]
DivisionsTechnology, PURE Digital
Websitewww.imgtec.com

Imagination Technologies Group plc (LSE: IMG) is a British-based maker of a mobile graphics and microprocessor chip technology primarily known for its PowerVR graphics and Pure DAB radio divisions. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History

The Company was founded in 1985 as VideoLogic and originally focused on graphics, sound acceleration, home audio systems, video-capture and video-conferencing systems.[2]

It was first listed on the London Stock Exchange in July 1994.[3] The following year it entered into a licensing agreement over its PowerVR technology with NEC (now Renesas) who took a 2.29% stake in the Company for £1.6 million and acquired the rights to manufacture and sell the chip.[4] On 2 December 1997, NEC subscribed 2.3 million (1.5%) new shares at a price of 56.5p, taking its total stake to 3.5%.[5] In 1999 the Company refocused on intellectual property licensing generally and changed its name to Imagination Technologies.[2]

On 23 March 2000, Imagination Technologies acquired Ensigma, a private company specialising in Digital Signal Processing, for a maximum consideration of £5 million.[6]

On 26 September 2001, Imagination Technologies acquired Cross Products Limited, a company designing and producing development tools for META DSP IP cores and Renesas's SuperH architecture processors under CodeScape brand, for £4.2 million.[7]

In October 2006, Intel Corporation acquired a 2.9% stake i.e. 6 million shares in the Company for £5.28 million.[8]

On 24 November 2008, Imagination Technologies announced a license agreement it signed with a new partner, then undisclosed, for a high-performance version of its POWERVR SGX graphics processor chip: this was later revealed to be Apple Inc.[9] In December 2008, Apple Inc purchased a 3.6% stake in the company for £3.2 million.[9]

In June 2009, it was announced that Intel's stake had increased to 14% after it had acquired 25m shares.[10] One week later, Intel acquired another 5m shares from the Saad Group (based in Saudi Arabia), and its shareholding rose to 16.02%.[11]

Days later, Apple Inc announced it had subscribed for 2.2m new shares at 142.75p each and made market purchases of another 11.52m shares, raising its stake to 9.5%;[12] Saad Group, who had held 44.6m shares i.e. 20.3% of the Company as at 30 June 2008, was thought to be the vendor of these shares, and had been reportedly forced to divest after its bank froze its accounts.[13]

On 17 November 2010, Imagination Technologies announced its intention to acquire HelloSoft, one of the world’s leading providers of Video and Voice over Internet Protocol and wireless LAN technologies, for a maximum consideration of $47 million.[14]

On 14 December 2010, Imagination Technologies acquired Caustic Graphics, developer of hardware/software real-time ray-tracing graphics technology which was founded by a group of former Apple engineers, for $27 million.[15]

On 14 December 2011, Imagination Technologies announced that it had signed a licensing agreement with Qualcomm. The company signed an agreement for the display IP from its PowerVR portfolio.[16]

On 3 January 2012, Imagination Technologies announced that it will invest totalling £5 million, in Toumaz Microsystems, a wireless intercom spinout of Toumaz Ltd., and will own 25% of the business.[17]

In June 2012, Imagination Technologies acquired Nethra Imaging, a semiconductor and systems company focused on delivering video and imaging solutions.[18]

On 17 December 2012, Imagination Technologies beat Ceva Inc in the race to buy processing technology firm MIPS with a knockout offer of $100 million.[19]

On 29 December 2012 its Chief Executive Officer, Hossein Yassaie, was awarded a knighthood in the 2013 New Year Honours. The award was given in recognition of his services to technology and innovation.[20]

Operations and Products

The Company has two activities:[1]

Semiconductor intellectual property

Consumer electronics

See also

References

  1. ^ a b c d e "Preliminary Results 2012" (PDF). Retrieved 4 November 2013.
  2. ^ a b Analyst Report 9 July 2008
  3. ^ IT Support London
  4. ^ NEC Announces Investment in VideoLogic; Companies Sign Joint Development and License Agreement on Advanced 3D Games and Virtual Reality Technology Business Wire, 27 March 1995
  5. ^ NEC ups Videologic stake, Computer Business Review, 2 December 1997
  6. ^ Imagination Technologies buys Ensigma[dead link‍]
  7. ^ "Imagination Technologies buys Cross Products". Investegate.co.uk. Retrieved 4 November 2013.
  8. ^ "Intel invests $9.88 million in PowerVR producer". Register Hardware. 2 October 2006.
  9. ^ a b Athow, Desire (21 December 2008). "Why Has Apple Invested In Imagination's PowerVR?". itproportal.com.
  10. ^ "Intel boosts stake to 14%". Bloomberg. 18 June 2009.
  11. ^ Fletcher, Nick (23 June 2009). "Intel raises stake in UK chip group Imagination". The Guardian. London.
  12. ^ Fletcher, Nick (June 2009). "Imagination Technologies up as Apple stake hits 9.5%". The Guardian. London. Retrieved 5 May 2010.
  13. ^ Marshall, Rosalie (26 June 2009). "Apple follows Intel in grabbing extra Imagination stake". V3.co.uk.
  14. ^ Imagination Technologies targets HelloSoft in move to bolster technology base Stockopedia, 17 November 2010
  15. ^ Imagination Technologies acquires Caustic Graphics Vizworld, 14 December 2010
  16. ^ Sylvie Barak, EE Times. "Qualcomm becomes Imagination Technologies licensee." 14 December 2011. Retrieved 14 December 2011.
  17. ^ Imagination Technologies buys into Toumaz Tech Eye, 3 January 2012
  18. ^ "From UK-Analyst.com: Thursday 13 September 2012". UK-Analyst.com. Retrieved 12 January 2013.
  19. ^ "Imagination Tech to buy MIPS Tech for $100M". Associated Press. 17 December 2012. Retrieved 18 December 2012.
  20. ^ "Hossein Yassaie knighted for services to technology and innovation". imgtec.com. 29 December 2012. Retrieved 29 December 2012.

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