Apple confirmed that it is in business negotiations to acquire British Imagination Technologies
Apple is the fifth largest shareholder of Imagination, holding 8.4% of its shares. It has been reporting that Apple might
consider acquiring Imagination since its another shareholder Intel sold out its shares last year.
Apple made announcement that it considered acquiring Imagination on Tuesday. In the meanwhile, it claimed that the company is
not going to make a bid for Imagination now.
Imagination locates in Hertfordshire, England. The graphics chip made by Imagination is applied by iPhone.
Ars Technica initally reported that Apple would acquire Imagination technologies. This news brought in 20% increase of its
share price. It forced Apple to verify this news to its investors. Apple’s deny led to a decline of Imagination share price.
Imagination’s current share price is below its peak price in 2012. Its chip was applied by several smartphone manufacturers
then. The public assumed its develop would be familiar with ARM’s.
The market value of current Imagination is £530 million, while it was valued at £2 billion in its boom period.
Due to the slow growth of smartphone, Imagination faces competitive pressure from its emerging rivals. This made its investors
feel restless.
Imagination CEO Hossein Yassaie was dismissed last month. Imagination claimed that it will sold Pure and cut 350 jobs around
the world.
The acquistion of Imagination would help Apple to enhance its impact in Uk. Besides its sales and marketing teams, Apple also
has a small size expert team works in London and Cambridge to study UI and AI.
