Apple paying big bucks
Apple typically prefers to acquire technologies by buying up startups or smaller firms, but on Friday, it said it struck an agreement to buy mobile security firm AuthenTec for $356 million. Twitter, the Internet phenomenon with some 140 million users that allows people to “tweet” 140-character messages, is already integrated into Apple smartphones and tablets.
The newspaper did not cite its sources on why the world's most valuable technology corporation, which thrives on designing and fashioning hardware, would be interested in buying a slice of the fledgling Internet company.
Twitter executives repeatedly say they are in no rush to seek additional financing, either privately or on public markets, since they have “truckloads” of cash. But the company, once viewed as a promising IPO candidate, has been struggling to earn revenue off the enormous volume of messages it hosts.
Publish date: July 28, 2012 10:49 am| Modified date: December 18, 2013 11:00 pm