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TheStreet Open House

Apple May Grab Kinect Technology: Report

Stocks in this article: AAPL MSFT

Updated from July 16th 8:21 a.m. ET to provide comments from PrimeSense CEO in the third paragraph.

NEW YORK ( TheStreet) -- The Apple (AAPL - Get Report) acquisition rumor mill is heating up again. Instead of something to add to the iPhone or the iPad, Apple may be looking at something for the living room.

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 - Get Report) 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

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