Passif Semiconductor acquired by Apple Inc.
Apple Inc. (NASDAQ:AAPL) continues to grow with its latest acquisition of Passif Semiconductor that is a small chipmaker company based in California; the company specializes in making communication chips that are low-power. Passif Semiconductor makes networking software and wireless hardware that are power efficient. Jessica Lessin, a blogger, was the one to break this news.
Apple Inc. at the moment has not commented on its Passif acquisition. Therefore, Lesson says the reason for this move by Apple is still unknown in terms of Apple’s future plans.
Acquisition of a smaller company by Apple is not an uncommon practice. Back in 2010, Apple bought out Intrinsity and 2008 it purchased P.A. Semi. These companies have helped Apple in producing hi-tech portable devices.
Passif’s acquisition might suggest that Apple is looking to expand its communication and wireless technologies. Previously Apple only had Qualcomm and Boradcom for this purpose.
According to Tim Cook, CEO of Apple, his company is purchasing a new smaller company every month or at times every two months. Fairly recently, to improve its mapping software, Apple took two mapping companies by the name of Locationary and HopStop.
On Thursday shares of Apple Inc. (NASDAQ:AAPL) went up by 0.55% (455.17) on 5.52 million trading value of shares.