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Monday, November 25, 2013

Apple acquires Israel's PrimeSense in a $350 million deal - Bloomberg, (NASDAQ: AAPL)

Apple Inc agreed to purchase Israel-based PrimeSense Ltd, a developer of chips that enable three-dimensional machine vision, for about $350 million, Bloomberg reported on Sunday citing a source. PrimeSense's sensing technology, which gives digital devices the ability to observe a scene in three dimensions, was used to help power Microsoft's Xbox Kinect.Apple's interest in PrimeSense was first reported in July by the Israel-based Calacist news website."Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans," a company spokeswoman Kristin Huguet told Reuters via email.PrimeSense could not be immediately reached for comment outside regular U.S. business hours.

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 7990176.