Apple Has Looked at Imagination for Acquisition

UK-based Imagination Technologies is under scrutiny as a possible acquisition for Apple, which uses its PowerVR GPUs in the iPad and iPhone.

Apple already owns 8.42% of the company – its third-largest shareholder – and Imagination has been struggling recently. The firm announced 350 redundancies in March, as part of a cost-cutting move.

For its part, Apple has admitted that it has had some discussions with Imagination, but does not plan to make an offer at this time.

Analyst Comment

Imagination also lost its long term CEO, Hossein Yassaie, in February. Of course, the reaction from Apple PR is pretty well almost what it said. ‘No plan to make an offer at this time’ might change at any time! (BR)