The New York Times reports that Apple has purchased Intrinsity for, what is rumored to be, $121 Million.

From the report:

Apple has acquired a small Austin, Tex., company called Intrinsity, known for making zippy versions of a computer chip often found in mobile devices. The deal, which closed late last month and was confirmed by Apple on Tuesday, shows the company continuing to try to gain an edge in the mobile device market by purchasing technology and chip experts.