Apple has no plans to buy Imagination

By Peter Clarke, EETimes Europe
March 23, 2016

Apple has said that although it has held talks with struggling processor intellectual property licensor Imagination Technologies Group plc it does not plan to make an offer for the company "at this time."

Imagination's share price jumped nearly 20 percent Tuesday (March 22) on news of takeover talks but lost most of the gains after Apple's statement was issued.

Apple has used Imagination's PowerVR graphics processor cores in its self-designed processor SoCs for iPhone and iPad for many years and has held a minority stake in the UK company that stands at about 8.5 percent. However, in the last year Imagination has been reporting losses and apparently losing out to rival ARM Holdings plc (Cambridge, England).

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