Apple Denies Imagination Technologies Acquisition Reports

According to an earlier report, it was suggested that Apple could be interested in acquiring Imagination Technologies. For those unfamiliar with the name, Imagination Tech is the company that provides the PowerVR GPUs used in Apple’s mobile products. The company had previously announced that it will be reporting a loss for the full year, so it was speculated that Apple could be thinking of “saving” the company by acquiring it.

However according to reports from various news outlets, it seems that the rumors were untrue, or at least in part. Apple has since come forward to officially refute the reports that they are planning to acquire Imagination Tech. However what made the rumor partly true is that Apple has also acknowledged that they were in some preliminary talks with the company, but they do not have plans to make an offer.

That being said, Apple does hold a vested interest in the company as according to Imagination Tech’s latest annual report, the Cupertino company was found to own an 8.48% stake in them. Given Apple’s propensity t o try and control everything from its hardware to software, it would not have come as a surprise if the rumors were true, since controlling one additional aspect of their hardware would allow the company to further optimize their products to their specifications, but alas we guess it was not meant to be.

Tyler Lee
Categories: Apple, Cellphones
Tags: iPhone