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Imagination Stock Rises on Report of Apple Talks
Peter Clarke, EETimes
3/22/2016 09:00 AM EDT
The share price of troubled processor intellectual property licensor Imagination Technologies Group plc (Kings Langley, England) jumped on Tuesday (March 22) on a report of potential acquisition by Apple. Imagination's share price jumped about 18 percent from Monday' close and traded on the London Stock Exchange at £2.50 through most of Tuesday.
The report on the ArsTechnica website states that Apple is in "advanced talks" about the acquisition of Imagination, citing unnamed sources. Any interest is likely to be mainly related to the PowerVR line of GPU cores as Apple has used these in its self-designed processor SoCs for iPhone and iPad for many years. Apple has had a minority stake in Imagination since it began working with the company and it stands at about 8.4 percent.
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