A month after the rumors first started flying, Apple finally confirmed that it has indeed purchased Intrinsity, a Texas-based chipmaker.
Apple confirmed the acquisition on Tuesday to The New York Times, though it did not disclose the purchase price or what Apple’s plans for Intrinsity are. One guess has the value at $121 million.
It’s the second chipmaker purchased by Apple in two years starting with P.A. Semi, which it bought for $278 million. It’s also the fourth acquisition Apple has made since last fall; it bought map API maker PlaceBase in October, social music site LaLa in December, and mobile ad company Quattro Wireless in January for $275 million.
Though it appears like Apple is on a bit of a shopping spree right now, the company has the funds to back it up. At the end of its second fiscal quarter of 2010, Apple reported it had accumulated $41.7 billion in cash. Though Steve Jobs told investors at the annual company meeting that he had no plans to use that to offer a dividend to shareholders, he did hint what he’d rather do instead.
“You never know what opportunity is around the corner,” Jobs said at the February meeting. “We’re very fortunate that if we needed to acquire something we could write a check for it and not have to borrow money.”
American-owned company doing most of its manufacturing offshore – making a lot of money for Apple investors who are often liable to be Americans. Intrinsity provides tools, technology and design expertise to the chip industry. Based in Austin, Texas – which ain’t Republican Texas country.
Not the purest example of what can be achieved in the 21st Century economy; but, certainly more productive than the buggywhips preferred as central to a growing economy by politicians who still haven’t figured out Maynard Keynes or Franklin Roosevelt.