Apple Spent More Than Half A Billion Dollars On Acquisitions Last Quarter

applemoney

Having recently purchased both Nest and AI startup DeepMind, Google is currently on a high tech spending spree. Even Steve Jobs biographer Walter Isaacson has claimed that the search giant’s recent acquisitions have helped it take the lead over Apple when it comes to innovation in 2014.

But Apple is also putting its $159 billion worth of cash and investments to good use by carrying out its fair share of acquisitions.

According to a Wednesday regulatory filing by Apple, it paid $525 million on deals last quarter — almost twice what was spent one year earlier.

While smaller than the aforementioned Nest, the acquisitions — which include the likes of motion-tracking company PrimeSense, data analytics firm Topsy Labs, search engine Cue, and mapping software company Broadmap — show that Apple has been aggressively seeking out companies that can help with future Apple product launches. According to a research note from Maynard Um, an analyst at Wells Fargo & Co, Apple has focused particularly on companies that can help improve its mapping services.

Unlike Google, Apple tends to shut down the services of the companies it buys and then integrate the technology into its own lines.

Still, this should at least put paid to anyone claiming that Apple is just sitting on its money and not doing anything with it.

Related

About the author

Luke DormehlLuke Dormehl is a UK-based journalist and author, with a background working in documentary film for Channel 4 and the BBC. He is the author of The Apple Revolution, published by Random House, and is currently writing a book about algorithms for Random House/Penguin to be published in 2014. He also covers the digital humanities for Fast Company. He'd like you a lot if you followed him on Twitter.

(sorry, you need Javascript to see this e-mail address)| Read more posts by .

Posted in News, Top stories | Tagged: , , , , |