“Tsinghua Unigroup International has purchased a 3 percent stake in Imagination Technologies, the company that builds graphics processors for Apple’s custom A-series chips found in the iPhone, iPad and Apple TV,” Jan Manon reports for AppleInsider.

“Apple had been in talks to potentially acquire Imagination, but the iPhone maker ultimately opted not to strike a deal,” Manon reports. “Following the breakdown in talks, Chinese state-owned company Tsinghua took a 3 percent stake in Imagination as of May 4.”

“In a rare move, Apple issued a statement admitting it had ‘some discussions’ with Imagination, but that it did not ‘plan to make an offer for the company at this time,'” Manon reports. “Apple already owns an 8.5 percent stake in the company, more than twice that of Tsinghua’s new share.”

Read more in the full article here.

MacDailyNews Take: Asked for too much, Imagination did.

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Apple in ‘advanced talks’ to acquire Imagination Technologies for PowerVR GPU – March 22, 2016