US technology major Apple Inc (NASDAQ:AAPL) has carried out nine acquisitions behind the scenes since October 2012 and intends to increase the pace this year, CEO Tim Cook said at the AllThingsD’s D11 conference.
Prior to the start of the current fiscal year Apple had been buying a company every 70 days, which had resulted in the purchase of six or seven businesses in the previous year, Cook said. Given that it has taken over nine companies so far during the year, Apple’s acquisition rate has been raised to one transaction every 23 days.
The executive stressed that his company’s purchases will only be unveiled when it is necessary.
In March, an insider told the Wall Street Journal that Apple had bought indoor-GPS start-up WifiSLAM for some USD20m (EUR15.5m). A spokesman for Apple confirmed the transaction to the paper, without giving any details apart from saying that the group buys small technology firms from time to time, the WSJ said.