Apple Inc. (NASDAQ:AAPL) just acquired Passif Semiconductor Chipmaker. This report was first announced on Thursday from Jessica Lessin, the tech reporter who used to work with Wall Street Journal. Although the exact amount of money Apple Inc. (NASDAQ:AAPL) spent on the acquisition is unknown, it should be pointed out that the company has previously tried to purchase the company for “a price in the mid-tens-of-millions of dollars.”
Apple acquisition details not shared
The company confirmed the deal although specific details weren’t shared. This recent acquisition has people wondering if it has anything to do with the iWatch rumor. According to Apple Insider “The acquisition may be linked to Apple Inc. (NASDAQ:AAPL)’s rumored “iWatch” development, an anticipated wrist-worn device that is expected to connect with devices like the iPhone while also measuring biometric data for fitness and health purposes. Apple Inc. (NASDAQ:AAPL) has also been aggressively hiring personnel from the medical sensor field in an apparent attempt to bolster its team for the rumored “iWatch.” Well-connected analyst Ming-Chi Kuo of KGI Securities expects such a device to debut in late 2014.
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Apple Inc. (NASDAQ:AAPL) has previously filed for rights to the iWatch name in several countries throughout the world.
Last May, the tech giant’s chief executive officer Tim Cook shared that his company has acquired nine companies since October of last year. He added that Apple Inc. (NASDAQ:AAPL) has picked up their pace since last year when the company started to buy up companies with the rate of one in every 70 days.
CNET added, “The chipmaker is the latest to be acquired by the tech giant in a long while. Previously it purchased Intrinsity in early 2010, as well as P.A. Semi in 2008. Those acquisitions have been notable given Apple Inc. (NASDAQ:AAPL)’s increased interest in creating its own custom processors for its portable devices. This latest purchase suggests Apple Inc. (NASDAQ:AAPL) could be expanding that into wireless and communication technologies — things that Apple Inc. (NASDAQ:AAPL) has relied on companies like QUALCOMM, Inc. (NASDAQ:QCOM) and Broadcom Corporation (NASDAQ:BRCM) for in its products.”
Apple Inc. (NASDAQ:AAPL)’s future is looking brighter. Only time will tell if and when the company utilizes their acquisitions into something exciting.