One of the world’s largest tech companies, Apple buys a company every two to three weeks claims Apple CEO, Tim Cook. Cook said, ‘We buy on average a new company every two or three weeks. These companies are small and we do not announce such a deal. Our aim is to bring better talent in Apple and increase Intellectual Property. ‘ Cook said this during the annual shareholder meeting of Berkshire Hathaway Company.
Acquisition of companies at this pace also demonstrates Apple’s ability to buy. In the previous quarter’s results, Apple said that it had more than Rs 15 lakh crore cash. In terms of cash, it is one of the largest companies in the world. Apple has announced that it will spend about 24 lakh crore rupees on expansion and other plans in the next five years in the US. The new corporate campus is also being constructed under the same plan in North Austin at a cost of about Rs 7,000 crore. Five thousand people will work on this campus.
Cook said, ‘We continually discuss the use of our cash. We try to buy everything that Apple can use to take it forward. So we take a company every two to three weeks. Those companies have either talents that are beneficial to Apple or there is such an Intellectual Property, which we can use later. Apple has acquired Digital Magazine Subscription Service Texture in 2018 under this strategy. Later it was used in Apple News Plus Service.
Apple usually does not deal with major acquisitions. At present, its biggest acquisition deal is worth 20 thousand crores. The company had bought Beats in this amount in 2014. Apple turned Beats into its music streaming service. But, in the coming time, he can do some big deal too. In 2016 the company tried to buy Time Warner. However, he did not get success in it. According to American business experts, Apple may try to buy companies such as Tesla and Netflix in the next few years.
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