It has been years since Apple moved its mobile SoC design in-house and from the looks of it, the GPU is next. According to a new report, Apple is in “advanced talks” to acquire Imagination Technologies, a company that makes GPUs for iPhones. Imagination Technologies is a British chip design company that has been providing GPUs for Apple since the iPhone 4.

Ars Technica reports that Apple is in “advanced talks” with this company for an acquisition. When the scribe reached Imagination for a comment the company refused to deny any takeover bid from Apple.

Imagination Technologies is commonly known for its PowerVR line of GPUs that have been used for iOS devices since the iPhone 4 and 4th generation iPod touch.

Acquiring it would mean that Apple is serious about moving GPU design in-house and have more control over the entire process even though it works very closely with Imagination to ensure that the GPU works well with its mobile processors.

It’s interesting to note that Apple has owned a significant number of Imagination shares for a while now. It announced back in 2008 that it had acquired 3.6 percent of the British company and the following year increased its stake to 9.5 percent. The report doesn’t mention how much this deal, if it happens, will be valued at and when an official confirmation might come in from either Imagination or Apple.

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