What a crazy few hours it has been. First, it was reported that Color was going down the tubes, and then we heard that Apple was purchasing it. Now,AllThingsD is saying that Color isn’t being acquired by Apple, so much as being “acqhired.”
According to the report, Apple is not buying Color’s “technology, intellectual property, domain names or liabilities.” Instead, they are spending somewhere between $2 million and $5 million to acquire the talents of Color’s engineering team, which numbers around 20. Because of this, Color itself is “going to be wound down.”
Interestingly, AllThingsD says that the reason this story has gone in different directions in the past 24 hours is because of “bad blood” between “Color employees, (Color CEO) Nguyen, former Color employees, Color investors, and Apple.”
Color’s engineering team is likely to work on cloud technology at Apple. However, it should be noted that Apple has yet to confirm this.
For more on the Color saga, be sure to check out our previous reports including Apple Nearing Color Purchase?, Color: The $41 Million Dollar App Is Released, and Color’s Third Attempt At Relevance Relies On Verizon’s 4G Network.
Source: AllThingsD
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