Tags: apple | softbank | investment | tech fund

WSJ: Apple Confirms $1 Billion Investment in SoftBank Tech Fund

Image: WSJ: Apple Confirms $1 Billion Investment in SoftBank Tech Fund

(AP/Philip Toscano)

Wednesday, 04 Jan 2017 01:48 PM

Apple Inc. confirmed its plans to invest $1 billion a tech fund being set up by Japan's SoftBank Group Corp., the Wall Street Journal reported on Wednesday.

"We believe their new fund will speed the development of technologies which may be strategically important to Apple," the Journal quoted Apple spokeswoman Kristin Huguet as saying.

SoftBank has said it is investing at least $25 billion in the fund and has been in talks with Saudi Arabia's Public Investment Fund for an investment that could go up to $45 billion.

SoftBank has also said that it plans to make future large-scale investments via the tech fund, rather than on its own.

Reuters reported in December, citing sources familiar with the matter, that Apple had held talks with SoftBank about the investment.

Apple and SoftBank did not immediately respond to requests for comment.

© 2017 Thomson/Reuters. All rights reserved.

 
1Like our page
2Share
Companies
Apple Inc. confirmed its plans to invest $1 billion a tech fund being set up by Japan's SoftBank Group Corp., the Wall Street Journal reported on Wednesday.
apple, softbank, investment, tech fund
140
2017-48-04
Wednesday, 04 Jan 2017 01:48 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved