Did Apple Inc. (NASDAQ:AAPL) Pay More For PrimeSense’s Acquisition?

Posted by George Brook November 18, 2013 0 Comment 1549 views

There are rumors in the market that Apple Inc. (NASDAQ:AAPL) has acquired the Tel-Aviv-based 3D sensing company PrimeSense. The news hit the market following the reporting by Calcalist, the Hebrew business newspaper that noted the deal to be finalized for $345 million without citing any sources. Earlier in July, CNET reported that Apple Inc. (NASDAQ:AAPL) was in acquisition talk with PrimeSense and at that time it valued the company at $280 million.

About PrimeSense

It is possible that even the Microsoft Corporation (NASDAQ:MSFT)’s Xbox gamers may not be aware of PrimeSense and so many of us. This Israeli company is the force behind Kinect sensor that is powering Microsoft Corporation (NASDAQ:MSFT)’s Xbox 360 since 2010. And yes, even the next generation gaming console Xbox One is also powered by an improved Kinect sensor to put the gamer into a real action with an improved field of view. The Kinect sensor can track up to six individuals at a time and two players simultaneously. The one of its kind, Kinect sensor can perform analysis of up to 20 joints at once.

Rumor or Reality

While Apple Inc. (NASDAQ:AAPL) did not respond to the request for comment, PrimeSense did respond to Benzinga Sunday via e-mail. However PrimeSense did not provide any clarity on the alleged reporting of potential acquisition by Israeli newspaper Calcalist. In an e-mail the company mentioned that it do not want to comment on what its partners, customers or even potential customers are doing and neither it relate to any rumors or even re-cycled rumors.

PrimeSense just mentioned in an email that the company is focused at brining ‘3D sensing and natural interaction’ to variety of markets including mobile and interactive living room devices.

Apple’s Perspective

As Apple Inc. (NASDAQ:AAPL) has not yet commented anything related with PrimeSense’s acquisition only time can prove what the company really want to do with this acquisition. But if rumors prove to be true by tomorrow, we may expect Kinect to power Apple Inc. (NASDAQ:AAPL)’s long discussed Apple TV or some next generation mobile app exclusively designed for its iOS devices.

About George Brook

George Brook covers money and politics for GDP Insider. George is a veteran journalist who has also covered Congress, national political conventions and presidential politics. George also covers the White House as well as economic and domestic policy for GDP insider. George's reporting has won numerous awards, including two Scripps Howard awards, two National Headliners, two Gerald Loeb Awards, as well as honors from Sigma Delta Chi and the National Press Club.

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