After almost a decade, it appears that Apple and Imagination, responsible for the PowerVR GPUs used in Apple products, may part ways with the news wiping over 60% off the chip designer’s stock price.
Back in early 2009, it came to light that Apple may have become an investor in Imagination Technologies who, at the time, had recently announced its PowerVR multi-core graphics processing units designed for mobile devices. Later that year, both Intel and Apple raised their stakes in the company , taking their collective interest in the company to over 25%.
More recently, it became apparent that Apple had discussed the possibility of acquiring Imagination Technologies but stopped short of making an offer for the GPU designer. With Apple contributing to more than half of the company’s revenues, it came as a crushing blow when the Cupertino giant disclosed that it had been working on its own graphics design to incorporate into its products, wiping a massive 64% off the value of Imagination’s stock.
