Jobs’ Mob was considering buying Imagination Technologies but walked away from the deal.
In a statement today Jobs' Mob said: "From time to time, Apple talks with companies about potential acquisitions. We had some discussions with Imagination, but we do not plan to make an offer for the company at this time."
The announcement ends speculation that Job’s Mob would bail out the troubled British company. Imagination laid off a fifth of its employees to avoid another loss-making year and its CEO cleaned out his desk and exited the building with his personal belongings in a photocopy paper box.
Imagination was an obvious acquisition target for Apple, which already owns 10 per cent of the company and it uses its PowerVR graphics processors in its iPads and iPhones.
It is not clear why Apple changed its mind. It is not short of a bob or two. We guess that since Apple has thrived without any imagination for a while, it does not really see a need.