Updated from July 16th 8:21 a.m. ET to provide comments from PrimeSense CEO in the third paragraph.
According to Israeli Web site Calcalist.co.il, Apple is reportedly thinking about buying PrimeSense, the company that helped develop the technology behind the original Microsoft (MSFT) Kinect. The reported purchase price is between $280 million and $300 million.
Apple could not be immediately reached for comment for this story. PrimeSense CEO Inon Beracha did not comment on the rumor. "PrimeSense is growing the company and currently has by far the leading 3D technology in the market, tier one prospects, strong revenues and a healthy cash position," Beracha said in an emailed statement to TheStreet. "We are focused on building a prosperous company while bringing 3D sensing and Natural Interaction to the mass market in a variety of industries. We can't comment on what any of our partners, customers or potential customers are doing and we are not commenting on rumors."Usually Apple acquisition rumors are to be taken with a huge grain of salt, but Calcalist has had a good track record, most recently breaking the news Apple was in talks to acquire Anobit, which the tech giant ultimately did. The original Kinect was a revolutionary product when Microsoft launched in 2010, but the Redmond, Wash.-based company has since gone on to replace the technology PrimeSense provided for it. At the reported purchase price of around $280 million, it would be a drop in the bucket for Apple, which at the end of the last quarter, had $145 billion in cash. A purchase of PrimeSense could also help Apple with motion sensors, which could potentially play a part in an Apple TV set-top box or something even more exciting in the living room. Shares of Apple were lower in early Tuesday trading, off 0.13% to $426.87. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Chris_Ciaccia
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV