Apple and McLaren have been in talks for a possible takeover. Wait, what?
Update: In a statement to Mashable, a McLaren spokesperson said "We can confirm McLaren is not in discussion with Apple in respect of any potential investment," So those hoping for an Apple 570S or something else, we're going to be bursting that bubble now.
Update 2: Tim Bradshaw, one of the reporters behind the Apple/McLaren story has gone on Twitter saying the FT stands behind its original report.
Apple has eyes set on acquiring the McLaren Technology Group - the folks who brought us the F1 supercar and more recently the 570S. The Financial Times reports that Apple and McLaren have been in talks for the past few months about either a full takeover or strategic investment. Why is Apple interested in McLaren? The FT says Apple is interested in McLaren's technology and knowledge of using light-weight materials such as carbon fiber and aluminum. The deal if it goes through is likely to be valued between $1.3 billion and $1.95 billion.
For the past few years, rumors have been swirling around of Apple building their own self-driving electric vehicle. Apple brought in engineers from various automotive companies such as Diamler and Tesla, and began work on Project Titan two years ago. But the New York Times reports that Apple has hit a few snags in this project and has decided to reset the project. Dozens of employees were laid-off and parts of the project were shuttered. The report goes on to say the Apple is now focusing on building the underlying technology for an autonomous vehicle.
Sources tell the FT that the deal might not go through because of the change in strategy.
Apple declined to comment when asked by Roadshow. McLaren hasn't issued a comment at this time. See Update.
Source: Financial Times (Subscription Required), Bloomberg, New York Times, Roadshow