Apple Buys 3 To 4 Companies Per Week, Tim Cook Says

Dhir Acharya - Feb 24, 2021


Apple Buys 3 To 4 Companies Per Week, Tim Cook Says

Apple's notable acquisitions in 2020 included the Dark Sky weather app, NextVR and Spaces VR/AR startups, Mobewee mobile payments service, etc.

Over the past six years, Apple has bought about 100 small businesses in its corporate acquisition spree, according to Tim Cook’s statement at a virtual meeting on Tuesday.

As reported by Bloomberg, Apple’s CEO said that the company has been acquiring a small firm every 3-4 weeks. Its notable acquisitions in 2020 included the Dark Sky weather app, NextVR and Spaces VR/AR startups, Mobewee mobile payments service, among other companies.

tim cook
Tim Cook said over the last 6 years, the company has bought 3-4 firms a week

The Cupertino-based company has tried hard to conceal the details of its acquisitions but some deals may be worth hundreds of millions of dollars. Within six months before May 2019, Apple had already bought 20 to 25 companies. During the Tuesday meeting, Cook said:

“We’re not afraid to look at acquisitions of any size. Focus is on small, innovative companies that complement our products and help push them forward.”

Acquisition sprees by major companies like Apple, Amazon, Google, and Facebook have been scrutinized by antitrust regulators. In October 2020, it ứa reported that four firms that used to be underdog startups ended up being monopolies in the era of railroad tycoons and oil barons. The FTC demanded details on Apple’s acquisitions in 2020 but the tech giant tends to buy companies smaller than the threshold for regulators to step in. Most allegations of Apple’s anticompetitive behavior have focused on different issues of the App Store and iOS.

tim cook
Taking over the competition is not the motive of these acquisitions

Last year, Tim Cook said that Apple evaded antitrust questions about its acquisitions as its “strategy has been to buy companies where we have challenges, and IP, and then make them a feature of the phone,” instead of taking over the competition.

During the Tuesday meeting, the CEO also claimed that the company does not dominate any markets.

“Apple doesn’t have a dominant position in any market we compete in, not in any product category, not in any service category, and not in software or apps. This competitive marketplace pushes all of us to be better. So while scrutiny is always fair, accusations like these fall apart after a reasonable examination of the facts.”

>>> AirPods 3 Appears With Shorter Stems And In-Ear Design In Leaked Images

Comments

Sort by Newest | Popular

Next Story

Read more

ASUS ROG Phone 5 To Debut With More RAM Than Gaming Laptops

Mobile- Mar 03, 2021

ASUS ROG Phone 5 To Debut With More RAM Than Gaming Laptops

It seems like ASUS is again trying to lead the hardware race with its gaming-centric ROG lineup.

OPPO A12 Review: A 2019 Smartphone That Launches In 2020

Review- Mar 03, 2021

OPPO A12 Review: A 2019 Smartphone That Launches In 2020

In this OPPO A12 review, we will explain to you why the OPPO A12 isn't a good option in the sub-Rs. 10,000 price range and suggest some much better picks.

Photos In WhatsApp Chats Will Self-Destruct If This Feature Comes To Life

ICT News- Mar 04, 2021

Photos In WhatsApp Chats Will Self-Destruct If This Feature Comes To Life

WhatsApp is working on a self-destructing photo feature, which could resemble the disappearing message feature. Its traces were spotted in beta updates.

Australian Man Sues Apple For His Exploding iPhone X

Features- Mar 04, 2021

Australian Man Sues Apple For His Exploding iPhone X

Due to the exploding iPhone X, De Rose said he suffered a “second-degree burn” in his thigh. He has contacted Apple but never received a response.

Woman Spends Rs 1 Lakh On Wedding To Marry Herself

Features- Mar 02, 2021

Woman Spends Rs 1 Lakh On Wedding To Marry Herself

After breaking up with her boyfriend, Meg, a woman from the USA, decided to spend Rs 1.02 lakh on a wedding ceremony to marry herself.

Where To Buy PS5 In India And When It Is Available For Pre-Order

Gadgets- Mar 03, 2021

Where To Buy PS5 In India And When It Is Available For Pre-Order

The PS5 arrived in India on February 2 but was quickly sold out. The only question is when it will be restocked in India and where to buy PS5 in India.