Acquisitions were a major topic of discussion during the big tech antitrust hearing earlier this week, but the focus was primarily on Apple’s competitors, including Amazon and Facebook. In a new interview with CNBC today, Apple CEO Tim Cook offered further details on what he believes sets Apple’s acquisition strategy apart from the competition.
Cook’s argument in the interview is that Apple is not acquiring a company because it is a competitor – which is the accusation imposed on Facebook for its acquisition of Instagram. Instead, Cook emphasizes that Apple is taking over a company to eventually implement the technology in the iPhone:
“If you look at the things behind the investigation, the things are acquisitions, and if you noticed, we got no questions about acquisitions because our approach to acquisitions has been to buy companies where we have challenges, and IP, and then make them a function of the phone, ”Cook said in the interview.
Cook points out a specific example of this. An example of this was Touch ID. We bought a company that accelerated a Touch ID at some point, ”said Apple CEO CNBC. There are also many other examples, ranging from minor acquisitions of AI technology to the improvement of Siri to Apple̵
Apple’s biggest acquisition to date is Beats, which it acquired in 2014 for $ 3 billion. One of Apple’s most recent acquisitions was Dark Sky, a weather app that now serves as the basis for new features in the Weather app on the iPhone in iOS 14.
As CNBC points out, Apple reveals very little detail about its acquisitions because the offers are small enough that they do not need to be reported to the SEC. In fact, this interview marks one of the few times that Cook has directly addressed Apple’s strategy of acquiring smaller businesses from time to time. Last year, Cook said in an interview that Apple takes over a company every two to three weeks on average.
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