Rumors that Apple is planning to buy chip maker ARM are apparently off the mark, according to company CEO Warren East. Word that the Mac and iPhone maker might be looking to snatch up ARM began circulating after the two companies held a meeting earlier in the week, according to the Guardian.
“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,” Mr. East said. “Nobody has to buy the company.”
ARM-designed chips can be found in Apple’s iPhone, leading to speculation that the two companies met to discuss a buyout. With chip design firm PA Semi already in Apple’s pocket, however, buying the chip manufacturer doesn’t seem to be part of the company’s plans.
For now, ARM will have to make a go of it on its own, and it doesn’t look like the company will have any problems with that.