Apple Inc (NASDAQ:AAPL) is becoming ambitious as it looks to pursue growth opportunities in the auto industry. According to the Financial Times, the tech giant has made an approach to acquire McLaren. The British Supercar maker is reportedly valued at between £1 billion and £1.5 billion.

 Apple-McLaren Deal

The financial Times on its report claims that negations between the two companies have been talking for months an indication that a deal could be in the pipeline. McLaren has however refuted the claims as Apple refuses to issue a statement on the same.

A tie-up with McLaren would not come as a surprise given the efforts the tech giant has put so far, as it seeks to expand into the auto industry. A hiring spree thathas targeted some of the best talents in the industry has all but affirmed how serious Apple is about the auto industry.

Apple has never confirmed that it is working on a self-driving electric car even as industry experts insists something is in the pipeline. The acquisition of McLaren, in this case, should go a long way in bolstering its efforts on this front given the expertise and technology the British company poses.

Engineering prowess, vast patent portfolio and technology, are some of the things that Apple stands to gain on acquiring McLaren. Given the progress already made on the self-driving car project, these assets should go a long way in polishing the technology.

 Apple Acquisition Rumors

This is not the first time that Apple has been linked with a mega-acquisition in the auto industry. Last year, the tech giant was the subject of heated debate over speculation it was planning to acquire the pioneer of electric cars Tesla Motors Inc (NASDAQ:TSLA). The rumor slowly died out on Chief executive officer sidestepping the issue when quizzed during a shareholders meeting.

Apple Inc (NASDAQ:AAPL) has also invested $1 billion in a Chinese ride-sharing service further affirming how serious it is about expanding into the auto industry. McLaren acquisition should go a long way in affirming its credentials and prospects in the industry given the technology and engineering prowess it brings that could play a key role in the development of self-driving cars.

1 Chart Pattern Every Investor Should Know

This little-known pattern preceded moves of 578% in ARWR, 562% in LCI, 513% in ICPT, 439% in EGRX, 408% in ADDUS and more...

Click Here to See This Now.

(Visited 107 times, 1 visits today)