Apple said yesterday it had talked about buying its supplier Imagination Technologies but did not plan to make an offer for the British graphics chip designer at the moment.

Shares in Imagination, which counts Apple among its top shareholders and whose technology is used in the iPhone and iPad, jumped earlier yesterday after website Ars Technica UK said Apple was in talks to buy the company.

“From time to time, Apple talks with companies about potential acquisitions,” the US company said in a statement. “We do not plan to make an offer for the company at this time.”

Imagination has struggled to reduce its reliance on Apple and last month announced the departure of chief executive Hossein Yassaie after 18 years, along with a profit warning and restructuring plan.