Apple acquired NeXT Software, Inc. for $400 million, a transaction announced in December 1996, structured as cash plus debt assumption.
NeXT Software, Inc. operates in Operating systems / software, is based in Redwood City, California, USA. Apple agreed to buy Steve Jobs' NeXT Software in a friendly acquisition, folding all of NeXT's products, services and technology research into Apple. The deal returned Jobs to the company he co-founded in 1976. NeXT's object-oriented development tools and its NEXTSTEP operating system became the technical foundation Apple used to build Mac OS X. Terms were $400 million ($350 million cash plus roughly $50 million of assumed debt).
Apple positioned the deal as marrying its strengths in ease of use and multimedia with NeXT's development software and operating-environment expertise, giving developers a modern OS foundation and advancing Apple's move toward open industry standards for the emerging Internet/intranet market.
The acquisition of NeXT is the start of a new chapter in Apple's history and represents a milestone in our transformation as a corporation. Today Apple welcomed back its most talented visionary.Dr. Gilbert F. Amelio, Chairman and CEO, Apple Computer, Inc.
Advisory firms were not disclosed for this transaction.