Apple Might Buy a Supercar Maker and F1 Team All in One Shot [Updated]
American technology giant Apple has reportedly approached McLaren Technology Group in search of a buyout or potential strategic investment.
According to Financial Times, the two companies have already been talking for several months. Apple specifically declined to comment on the story, while McLaren flat out denied the rumors. “We can confirm that McLaren is not in discussion with Apple in respect of any potential investment,” reads a statement sent to The Verge.
The fit may seem odd, but McLaren uses lots of cutting edge technology thanks in no small part to its Formula 1 team and could benefit from Apple’s expertise. Hybrid powertrains are also a big part of what McLaren does which is certainly a technology that Apple is interested in.
On the other side of the deal, Apple is working to get into the self-driving car business and could benefit from McLaren’s extensive car production knowledge.
Financial Times says that McLaren would likely be valued between $1.3 billion and $1.9 billion.
McLaren Technology Group is owned three parties: Ron Dennis, company chairman Mansour Ojjeh and Bahrain sovereign wealth fund Mumtalakat.
Updated on September 21st, 12:50pm EST. Added official comment from McLaren.
[Source: Financial Times]
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Stephen covers all of the day-to-day events of the industry as the News Editor at AutoGuide, along with being the AG truck expert. His truck knowledge comes from working long days on the woodlot with pickups and driving straight trucks professionally. When not at his desk, Steve can be found playing his bass or riding his snowmobile or Sea-Doo. Find Stephen on <A title="@Selmer07 on Twitter" href="http://www.twitter.com/selmer07">Twitter</A> and <A title="Stephen on Google+" href="http://plus.google.com/117833131531784822251?rel=author">Google+</A>
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i may have already read this is not actually going to happen