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Apple gobbles up chip maker Intrinsity for $121 million

Apple's buying spree for chip technology companies continues, with The New York Times reporting that the company has acquired Intrinsity. The Texas-based fabless semiconductor company was widely thought to be the engineering brains behind the iPad's A4 system-on-a-chip. Intrinsity's 1 GHz hummingbird processor was developed in partnership with Samsung last year, and the A4 is believed to be based on that technology.

The terms of the agreement have not yet been made public, but analysts have reported a price tag of US$121 million. Apple-watchers expected this deal to be closed this month after many Intrinsity employees changed their pages on LinkedIn to show their new job titles at Apple.

Intrinsity's acquisition by Apple continues the trend of the Cupertino-based electronics manufacturer bringing more chip expertise in-house, with the 2008 purchase of P.A. Semi being the most widely-publicized example. Some of Intrinsity's former customers include Samsung, ATI, LSI Corporation, and AMCC.

[via Mashable]

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