Apple Could be Interested in Buying Mobile Payments Company Square

Discussion in 'Apple iPad News' started by RaduTyrsina, Apr 10, 2014.

  1. RaduTyrsina

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    Jun 22, 2012
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    According to some recent reports from the Re/code publication, both Apple and Google could be interested in acquiring Square in order to use its technologies and reach to develop their own mobile payments solution. Google is seen as “the most likely acquirer,†considering the fact that the search giant already has the Google Wallet platform and it could be looking to expand its reach by using Square. However, it seems that CEO Jack Dorsey wouldn’t agree to such a buy-out, as believes his company’s “design aesthetic and values†are more closely aligned with Apple than Google.

    The rumor has it that there has already been made a $8 billion offer to acquire Square, but at the moment we don’t know whether this came from Apple, Google or another company. A more realistic view shows that Apple doesn’t have the profile of a company that makes billion-dollar acquisition. It rather prefers to spend its cash pile on smaller, more strategic deals that the company develops and embeds deeply into their own products and services. And this seems like a better strategy and buying a company just for the sake of making a good profit.

    Nonetheless, Apple Chief Executive Tim Cook himself hinted in January that Apple is interested in entering the mobile payment space, the Touch ID fingerprint sensor representing a good starting point

    Source: iPhoneForums

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