NEW YORK (TheStreet) -- ARM Holdings (ARMH) shares were soaring in premarket trading Friday on reports that Google (GOOG) is thinking about giving Intel (INTC) the ditch for its servers, and designing its own, custom ARM-based chips itself.
A report from Bloomberg, citing sources, noted Google is looking into designing its own chips, leaving out the -x86 architecture from Intel.
British-based ARM also announced it was acquiring Geomerics, the leader in lighting technology for the gaming and entertainment industries.
"The innovative technologies being developed by Geomerics are already revolutionizing the console gaming experience and are set to rapidly accelerate the transition to photo realistic graphics in mobile," said Pete Hutton, executive vice president and general manager of ARM's media processing division, in a press release. "Empowering Geomerics' portfolio with ARM's graphics capabilities and market reach will be transformative for the user experiences in future mobile and entertainment devices."
Terms of the deal weren't disclosed.
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