Apple is known to avoid big-name and high-price acquisitions, but Apple CEO Tim Cook told CNBC that his M&A team has actually been quite busy.
The Information reported the deal in November
The company has $225 billion in cash and securities on its balance sheet, according to its most-recent earnings, which makes Apple is one of the most cash-rich enterprises in tech. It also means Apple has a lot opportunities and incentive to spend. But unlike tech giant IBM which spent $34 billion on Red Ha,t or SAP which spent $8 billion on its acquisition of Qualtrics, Apple historically hasn't bet the farm on big deals.
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