Apple Reportedly Closed $350 Million Deal for PrimeSense on Friday

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Posted November 24, 2013 at 11:03pm by Shalom Levytam

Apple reportedly closed a deal for PrimeSense on Friday for $300-$350 million, according to Globes. Calcalist reported the deal last week; however, they did note that the final agreement had yet to be signed.

PrimeSense, founded in 2005 by president Aviad Maizels, CTO Alexander Shpunt, Dima Rais, Ophir Sharon, and Tamir Berliner, is run by CEO Inon Beracha. The start-up's five founders are expected to rake in $50-85 million from the acquisition.The company initially showed great promise, mainly because of its close relations with Microsoft Corporation. The software giant embedded PrimeSense's technology, which comprises both hardware and software, in the Kinect system used in Xbox 360 game consoles.

Globes notes that PrimeSense's relations with Microsoft cooled, after which the company entered into lengthy negotiations with several potential buyers. Microsoft ended up acquiring Canesta, a rival of PrimeSense, and developing the gesture recognition software for the Xbox One in-house.

Apple and PrimeSense have yet to comment on the deal.

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henry001dew - November 25, 2013 at 7:26am

Good newd from Apple !!

Curtix - November 25, 2013 at 3:19am

Great news! Guess in a couple more years we'll be able to use gesture control on the iPhone the way Samsung users have been able to do for years :p

gamerscul9870 - November 25, 2013 at 4:40am

Was it more than wave hand to pause feature samsung did because maybe apple can do more with this idea!

None45 - November 25, 2013 at 5:45pm

Years? Based on what logic? Air controls just became available to the general public this year... What motions are you referring to? Just make sense bro

gamerscul9870 - November 25, 2013 at 2:05am

I want the vaccum only!

Matutethedog - November 25, 2013 at 1:45am

Wow. Tremendous. Excellent buy for apple. Bravo for him

gamerscul9870 - November 25, 2013 at 2:01am

Hiss!