Apple has acquired Intrinsity, a chip making company that is considered to have built the Apple iPad. Â The deal was first mentioned in New York Times and has been confirmed by Apple only now. It is believed that the acquisition costs Apple $121 million.

Texas-based Intrinsity makes semiconductors for mobile devices. In collaboration with Samsung, it created a 1Ghz hummingbird processor last year. It is also believed to have created the iPad's A4 chip. The news is not entirely surprising as Intrinsity employees had started modifying their LinkedIn profiles to reflect their new role at Apple.

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