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Monday, November 25, 2013

Apple acquires Israeli 3D chip developer PrimeSense, (NASDAQ: AAPL)

Apple Inc has bought Israel-based PrimeSense Ltd, a developer of chips that enable three-dimensional machine vision, the companies said on Monday.An Apple spokesman confirmed the purchase but declined to say how much it spent. Israeli media said it was about $350 million."Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans," an Apple spokesman said in an e-mail.A spokeswoman for PrimeSense said: "We can confirm the deal with Apple. Further than that, we cannot comment at this stage."

Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. Shares of AAPL fell by 0.26% or $-1.336/share to $519.80. In the past year, the shares have traded as low as $385.10 and as high as $594.59. On average, 12297800 shares of AAPL exchange hands on a given day and today's volume is recorded at 7994381.