Apple is reportedly in "advanced talks" to Acquire British microchip designer Imagination Tech**logies, according to The Verge this morning.
The information is said to come from "a source with k**wledge of the discussions". When asked for comment, Imagination Tech**logies refused to deny the planned takeover.
The report follows the UK firm's an**uncement just last week that it was making additional cuts to its business as part of a significant restructuring program, which saw 350 jobs axed in the process.
Imagination traditionally supplies the PowerVR graphics architecture found in Apple's range of iPhones and iPads. Apple has been a licensee and stakeholder in the company since at least 2008, and became a key investor in mid-2009 when it raised its stake in the firm to 10 percent. In 2014, Imagination an**unced an extended licensing agreement with Apple.
Imagination Tech**logies currently has a market capitalization of around £500 million ($714.5 million). The acquisition, if confirmed, would likely mean Apple could design future graphics architecture for its iOS devices in-house.