Speaking at Goldman Sachs’ Technology and Internet Conference on Tuesday, Apple CEO Tim Cook pointed to the company’s “deliberate, thoughtful” mantra as a reason it doesn’t typically acquire large companies but admitted it’s not opposed to such purchases if the right one comes along.
Instead, Cook noted how Apple has actively been acquiring smaller companies that it finds as a better fit.
“If you look at the past three years,” Cook said, “we’ve averaged about an acquisition every other month. They’re companies where they have really smart people and/or IP. Generally speaking, we’ve been in many cases taking something they’re working on and move the skills to work on something else.”
Cook went on to cite the example of Apple’s acquisition of PA Semiconductor.
“This was an incredibly skilled group of guys, and they could supplement an incredible group of folks and they were working on PowerPC at the time. We didn’t have an interest in that, so we moved the skills to work on our iPhone and other engines. We will do more of those.”
As to large companies, Cook said the company’s patient and deliberate approach to acquisitions typically precluded such purchases, despite Apple’s cash holdings in excess of $125 billion.
“We have looked at large companies. In each case, it didn’t pass our test. Will we look at more? I think so. But we’re disciplined and thoughtful, and we don’t feel a pressure to go out and acquire revenue. We want to make great products. If a large company could help us, then that would be of interest. But, again: Deliberate, thoughtful is our mantra.”
Via: Apple Insider
The Tech Panda takes a look at how Indian companies are partnering with foreign businesses…
The Tech Panda takes a look at the investment temperament in the Indian startup ecosystem.…
Big Tech is no longer content with just running user feeds, they want wallets too.…
Indian shoppers could be shopping internationally using their UPI accounts sitting at home, thanks to…
The SMS as a tool to connect with customers might be coming to an end.…
Looks like finance and connectivity will come together soon in our devices. Recently, UK fintech…