This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Apple Inc. (AAPL) Said To Finalize Deal With Sensor Maker PrimeSense

Apple Inc. (AAPL - Get Report) may have sealed the deal with PrimeSense, the Israeli company known for making the original Kinect sensor.

Earlier this year we heard rumors that Apple Inc. (AAPL - Get Report) was in talks to buy PrimeSense, an Israel-based maker of 3D sensors. Now it sounds like Apple may have closed the deal to the tune of $345 million. That’s according to the Hebrew-language publication Calcalist via Apple Insider.

Apple not confirming report yet

The report indicates that an official announcement is expected from Apple Inc. (AAPL - Get Report) and PrimeSense within the next two weeks, although neither company is currently confirming the acquisition. It had reportedly been planned to close earlier this month, but some sort of legal issue was said to have delayed it. That issue was said to be related to a partnership.

When we first heard rumors that Apple was talking to PrimeSense, it was revealed that the Israeli company had created the original Kinect sensor used for Microsoft Corporation (MSFT - Get Report)’s Xbox. However, Microsoft has since updated the sensor and is apparently no longer using the design from PrimeSense. When those early reports were circulated, Apple was also said to have offered $280 million, so if the $345 million price tag ends up being correct, it certainly sounds like Apple really wanted the company.

Uses for the technology made by PrimeSense

PrimeSense is known for making products which create 3D environments and then track the movements of bodies and even facial expressions using the company’s sensors. Since being used in the Kinect, Apple Insider reports that it has also been used for the Ava healthcare robot developed by iRobot, as well as a to make 3D models of spaces, like for the Vuforia 3D gaming platform made by QUALCOMM, Inc. (QCOM).

Apple Inc. (AAPL - Get Report) could have any number of reasons for wanting to acquire the technology made by PrimeSense. Some have speculated that it could be used for the rumored iTV or for wearable computing devices.

-By Michelle Jones


Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $126.60 0.15%
MSFT $42.36 -1.74%
FB $80.00 -1.48%
GOOG $567.68 -1.33%
TSLA $193.88 -3.36%


DOW 17,856.78 -278.94 -1.54%
S&P 500 2,071.26 -29.78 -1.42%
NASDAQ 4,927.37 -55.4390 -1.11%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs