Update: Apple talks to buy Imagination fail to deliver a deal

According to Ars Technica Apple has been in talks with Imagination about taking it over but they have failed to agree a deal.

Apple in talks to buy Imagination

Apple has an 8.4% stake in the GPU developer which also owns MIPS.

Imagination’s shares have went up nearly 20% on the rumour of talks rhen fell back after the failure to agree a deal was announced.

Before the sell-off Imagination was valued at $870 million which would hardly have dented dent Apple’s off-shore cash pile.

Imagination lay-offs

Earlier this month Imagination said it would shed another 200 jobs in addition to the 150 lay-offs it announced last month.

The lay-offs will deliver £27.5 million of cost savings in full by the end of April 2017.

Earlier this year, Imagination’s long-serving CEO Sir Hossein Yassaie resigned in the wake of persistent losses.

See also: Imagination to lay off another 200 people

See alsoImagination links with EUROPRACTICE to extend University Programme

Read more Imagination stories on Electronics Weekly »

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