Thursday, September 22, 2016

Apple in talks to buy McLaren

This is going to be an interesting marriage if the deal does goes through, Apple is reportedly in talks to buy the McLaren supercar maker (and Formula One team owner) in a deal worth between $1.3 billion and $2 billion.

The tech giant's interest in McLaren Technology Group highlights its ambition to develop technology that could be use in an electric and driverless car. However, a representative from McLaren said it was not in talks with Apple about a deal. “We can confirm that McLaren is not in discussion with Apple in respect of any potential investment,” the company said.

McLaren builds supercars such as the P1, which costs about £866,000, and also develops technology for the healthcare, energy and transport industries. The company also controls the McLaren Formula One team, which is one of the most successful in the history of the sport despite struggling in recent seasons.

Apple said it “does not comment on rumours or speculation”.

The US firm rarely makes acquisitions, and a takeover of McLaren would be its biggest deal since it bought the Beats headphone brand for $3bn in 2014.

Apple is understood to have been developing a driverless car in a secretive project codenamed Project Titan. However, a number of workers have left the initiative in recent months, leading to speculation that Apple is struggling with its design or director.

Even though both camps refused to entertain the news, it is still interesting for talks of such 'discussion' to spill out into the wild. Will definitely stay tuned into this story as it unfolds.

Blogs about Dance, Travel and Food, Photography and gadgets that he purchases for work. Am available to do reviews.


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