Renesas to use more Imagination know-how

Imagination Technologies. which designs chips used in computing and mobile phone devices, has signed a multi-use license agreement for intellectual property (IP) with Renesas Electronics.

Under the terms of the agreement, Japanese company Renesas Electronics will use IP from Imagination's PowerVR Series6 graphics family.

Renesas's mobile division will initially distribute Imagination's technologies in its cellular platforms for high-performance smartphones, tablets, and in-car information and entertainment devices.

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Tony King-Smith of Imagination Technologies said: "Renesas is a long-standing partner of Imagination in graphics, and this latest expansion of our partnership will help both companies to further drive and exploit the latest graphics trends."

Under the terms of its licensing arrangements Imagination receives licence fees and royalty revenues on shipment of chips incorporating Imagination's IP.

The share price rose 0.48% to 480p by 08:35.

NR