Microsoft acquired shares of Apple | Techday, August 6th
On this TECHDAY in history, on August 6th 1997 an unexpected alliance was announced. Microsoft acquired 150 million dollars worth of shares of Apple Inc., in a move motivated not only by its desire to help the then-troubled computer maker corporation, but also possibly to deflect some criticism from its own trial. Apple, which had been struggling for some years to find a direction and profits, agreed to this boost in funding, with terms that dictated cooperation in the design of computers as well as shared patents. Microsoft had also decided to continue developing its Office program for Mac computers for another five years.
It is believed that the purchase was made as a show of support for Apple during a difficult financial period for the company. At the time, Apple was struggling to compete with Microsoft in the personal computer market, and many industry analysts believed that the company would eventually go out of business. However, Microsoft’s investment in Apple helped to stabilize the company’s finances. This move gave it the resources it needed to continue developing new products. As a result, the investment a seemingly turning point in Apple’s history, helped to set the company on a path to future success.
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