UPDATE: Reacting pretty quickly to rumors of an Apple acquisition that stormed the Internet recently, McLaren has denied everything, stating that no such plans are on the table.
As per the Verge, which cites an e-mail from a McLaren spokesperson,
We can confirm that McLaren is not in discussion with Apple in respect of any potential investment.
The statement leaves little room for doubt. However, there is a slight chance that the company’s PR itself is unaware of the developments — which may be taking place at some of the very highest levels. McLaren is a private company and as such, doesn’t have the same disclosure requirements and constraints as a publicly traded firm. To be honest though, such as statement makes any talk of an acquisition lean more towards wishful thinking, than anything else.
PREVIOUSLY: In what has the potential to turn out to be the mother of all acquisitions, Apple is reportedly in talks to acquire non other than supercar maker McLaren. While an FT report points towards a possible acquisition, this could potentially also lead to a point-blank strategic investment. The report also says that the talks may have been going on for months.
Apple’s previous notable acquisition — even that can not match the sheer scale of this one — was of Beats, which the company is now making full use of. Apparently, if the Cupertino giant has its way, McLaren could come under its umbrella for anywhere between $1.3 billion and $2 billion. There were rumours about Apple considering an acquisition of the Formula One racing league months ago, but not much heed was paid then.
According to FT, Apple isn’t just eyeing the automotive division of McLaren, it wants to own McLaren Technology Group, the parent company of all things McLaren. And yeah, even though hearing the brand name may make you feel like the company is humongous, McLaren Automotive is not as gigantic. The company reported $617 million in revenue for the entire year of 2015, which is evidently not that great a number, representing $27 million in net profit.
McLaren is famous for its super-fast cars and Formula-1 beasts. It’s most notable project was the McLaren F1, a car that was the fastest in the world for many years. The company has now expanded its approach, making cars and specializing in things like hybrid powertrains, lightweight materials and aerodynamic advancements.
According to recent rumours, the company has been working on a successor to the vaunted McLaren P1. And — as expected — this car is rumoured to be fully electric, which further aligns it with Apple’s ambitions.
That is perfect ground for Apple to take the stage as Apple’s own automobile effort– rumoured to be dubbed “Project Titan”– will bring us a completely autonomous, self-driving electric car. Hitting a deal with McLaren would be a type of jackpot for the Cupertino giant as this could be a way to hire many engineers who know how to make cars, engines, chassis and more.
While there is no evidence that the talks between the tech giant and the automaker could lead to an acquisition, it will be interesting to see how Apple proceeds with its automobile dream.