Apple Slows Pace of Dealmaking Even as Its Tech Peers Plow Ahead
- Company had previously been buying startups every few weeks
- Spending amounts to roughly $200 million over 2021 and 2022
Apple Inc. has spent much of its history snapping up promising startups, some of which formed the basis for popular features such as Siri and Face ID.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Apple Inc., which used to acquire a company every three or four weeks, has dramatically slowed its dealmaking in the past two years, a sign the tech giant is being more choosy in the face of a shaky economy and heightened government scrutiny.
The company spent just $33 million on payments connected to acquisitions in its last fiscal year and $169 million in the first nine months of the current year, according to regulatory filings. That’s down from $1.5 billion in fiscal 2020.