Apple is reportedly in "advanced talks" to acquire British chip design company Imagination Technologies, according to a source with knowledge of the discussions. When Ars sought comment, Imagination Technologies refused to deny any such planned takeover. Imagination Technologies is primarily known for its PowerVR line of GPUs, which Apple has used in its mobile A-series SoCs since the A4, which powered the iPhone 4 and 4th-gen iPod Touch. Apple has owned a significant number of Imagination shares since at least 2008, when it announced that it had acquired 3.6 percent of the company. Later, in 2009, Apple bumped its ownership up to at least 9.5 percent. For more, read the Ars Technica report here.
Update 1 p.m. PST: The WSJ reported later this morning that "Apple Inc. on Tuesday confirmed it had had discussions with Imagination Technologies Group PLC, but said it does not plan to make an offer for the company at this time.