The chief executive of ARM has told flatly denied any interest from the Cambridge-based hardware specialist in a potential bid by consumer electronics giant Apple, one which could be worth up to $8 billion.
Warren East told the Guardian that " Exciting though it is to have the share price pushed up by these rumours, common sense tells us that our standard business model is an excellent way for technology companies to gain access to our technology."
Speculators helped shares of the the FTSE100 newcomer climb by more than five percent, giving the company a market capitalisation of more than £3 billion.
The rumour comes hours after Google confirmed that it acquired another chip maker, Agnilux, which has former P.A. Semi employees as its core, a move that brings in questions of its own.
Obviously, P.A. Semi is the chip house Apple purchased back in 2008 and whose technology currently lies in the Apple A4 SoC. There are also rumours that Apple also bought another company called Intrinsity following the departure of key personnel from P.A. Semi.
ARM powers the likes of the iPhone, the Nexus One and all HTC phones and there are quite a few reasons why Apple may want to acquire ARM.
Apple buying ARM is going to be the best thing or the worst thing ever. Depending on which side you are. For Apple and ARM shareholders, it is a match made in heaven. For the rest of us, it will be pretty horrible because smartphone manufacturers will have no other SoC alternative.