Apple takes over Israeli PrimeSense for USD350 million

November 24
10:21 PM 2013

Cupertino-based tech giant Apple Inc. has agreed to acquire PrimeSense Ltd. for USD350 million. PrimeSense Ltd. manufactured a motion-tracking chip technology for rival Microsoft Corp.'s Kinect game console.

Apple spokeswoman Kristin Huguet confirmed the purchase today in a telephone interview with Bloomberg.

According to Bloomberg, the takeover deal fits Apple's pattern of buying less well-known companies whose capabilities are folded into future products. PrimeSense's technology enables digital devices to detect movements and objects and subsequently translates these into depth and color.

The report said that Apple hasn't used much of its USD146.8 billion in cash and investments for big acquisitions. Apple is the world's largest technology company in terms of stock-market value, The Wall Street Journal said.

Apple has bought several chip companies in the past five years, including Passif Semiconductor, Intrinsity and P.A. Semi. It also took over Israeli flash-memory technology maker Anobit a year ago, Bloomberg said.

This year, Apple acquired navigation-software company Embark and online transit-navigation service The tech company also purchased business-locations maps company Locationary and location-identifying technology WifiSlam, the report said.  

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