"On The Prowl": Apple Buys 24 Companies

Written by Oonagh Reidy     24/04/2014 | 09:39 | Category: INDUSTRY

Cupertino "on the prowl", buys 24 companies in the past 18 months.

Apple has purchased a total of 24 companies in the past 18 months, CEO Tim Cook revealed today as Cupertino announced quarterly profits of $10.2 billion.

SnappyLabs, Burstly, WifiSLAM and Topsy are among the start-ups snapped up by Apple in the past year and a half with several of the 24 acquisitions still a mystery. 

The revelation comes as criticism continues about Cupertino's apparent lack of innovation or ability to deliver a larger sized iPhone faster, as Android competitors like Samsung continue to eat into its market share, although rumours of Apple TV and iWatch have been circulating for over a year now. 

Cook said investing in R&D and hardware, software, and services was essential to the company, although start-ups must "fit culturally," and have "great technology." 

He also said Apple could do a Facebook on it and pay over one billion dollars for a start up, which it has not done, to date. "We don't have a rule that says we can't spend a lot or whatever." 

"We're eagerly looking forward to introducing more new products and services that only Apple could bring to market," he added. 

Apple quarterly revenues hit $45.6 billion to quarter ended March 29, up on the same time a year ago.

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