Imagination has licensed Apple to use “a wider range of Imagination’s intellectual property”.

This might well include Imagination’s latest GPU technology, announced last month, which, says Imagination, delivers the fastest GPU ever made.

The deal replaces the 2014 licensing deal between the two companies.

Two years ago Apple said it would stop using Imagination’s GPUs and, instead, would develop them in-house at Apple.

Apple accounted for half Imagination’s revenues at that time.

Imagination’s shares plunged on the news and the company ended up being bought by China-backed private equity firm Canyon Bridge.

Canyon Bridge paid £550 million for the company which had been valued at £2 billion in 2012.