Update: In a statement to CNBC, Apple has confirmed it is not planning to make an offer for Imagination Technologies. It did however hold some talks with the company about undisclosed topics.

ArsTechnica is reporting that Apple is in ‘advanced talks’ to acquire Imagination Technologies, makes of the PowerVR mobile GPU designs Apple licenses for its A9 and A9X SoCs. The company declined comment about any such acquisition of course. Apple began using Imagination Technologies GPUs since the Apple A4 chip. Rumors have been bubbling in recent years that Apple will eventually start designing its own mobile GPUs, in the same way it designs custom CPU silicon today. An acquisition of Imagination Technologies would be a clear signal the company is moving in that direction.

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