Apple slows pace of dealmaking even as tech peers plough ahead

The company spent just US$33mil (RM147mil) on payments connected to acquisitions in its last fiscal year and US$169mil (RM753mil) in the first nine months of the current year, according to regulatory filings. That’s down from US$1.5bil (RM6.68bil) in fiscal 2020. Apple is famous for avoiding the kind of blockbuster acquisitions that have enticed its Silicon Valley peers. But the company 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

NEW YORK: 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 US$33mil (RM147mil) on payments connected to acquisitions in its last fiscal year and US$169mil (RM753mil) in the first nine months of the current year, according to regulatory filings. That’s down from US$1.5bil (RM6.68bil) in fiscal 2020.