STOCKS NEWS EUROPE-Imagination shares up on MediaTek deal

Shares of Imagination Technologies Group Plc (IMG.L) rise 5.2 percent after the company signs a multi-use license agreement with Taiwan's MediaTek Inc (2454.TW), which designs microchips for mobile phones and DVD players.

Seymour Pierce analyst Ian Robertson says: "This is excellent news for Imagination as it places it firmly into the prospective volume smart phone markets, significantly derisking the story."

To see Imagination Technologies' statement please click on [ID:nRnsV2318U]

Reuters messaging rm://purwa.naveen.reuters.com@reuters.net