Tech

Apple steps up purchase of startups in race with Google

interns Contributor
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Apple Inc. Chief Executive Officer Steve Jobs is accelerating the rate of acquisitions as it vies with Google Inc. for mobile technologies and talent.

Apple said it bought two closely held companies last week, mobile-application startup Siri Inc. and semiconductor designer Intrinsity. Those deals came after January’s takeover of mobile- ad network Quattro Wireless and the December buyout of online music service LaLa Inc. Terms weren’t disclosed.

The timing of those purchases suggests Apple may be feeling pressure from Google, which has announced eight takeovers this year as it moves into new markets including mobile devices and the software and advertising that run on them. Apple got a new rival in the growing smartphone market last week when Hewlett- Packard Co. struck a deal to buy Palm Inc. for $1.2 billion.

Full story: Apple Steps Up Purchse of Startups in Race With Google – Bloomberg