Apple has confirmed that it has acquired Intrinsity, a Texas-based semiconductor maker that was likely the brains behind the chip that powers the iPad.
Terms of the deal — which was first reported by The New York Times — have not been disclosed, but analysts believe the price was $121 million.
Intrinsity creates semiconductors focused around mobile devices. It created the 1GHz hummingbird processor in partnership with Samsung last year. Many believe that this technology is behind the iPad's A4 chip.
This news isn't a total surprise — reports surfaced earlier this month about the acquisition after Intrinsity employees changed their LinkedIn pages to reflect their new roles at Apple.
Apple has been bringing more chip technology in-house in recent years. The biggest example to-date was theacquisition of P.A. Semi for $278 million in 2008.