“Apple Inc. agreed to acquire PrimeSense Ltd., the maker of motion-tracking chip technology that was used in Microsoft Corp.’s Kinect game console,” Serena Saitto and David Welch report for Bloomberg.

“Kristin Huguet, a spokeswoman for Apple, confirmed the purchase yesterday in a telephone interview. Apple, maker of the iPhone and iPad, and Tel Aviv-based PrimeSense were negotiating a deal for about $350 million, one person familiar with the deal said last week,” Saitto and Welch report. “‘Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans,’ Huguet said.”

“PrimeSense’s technology gives digital devices the ability to detect movements and objects, and then translates that into depth and color. Apple, the world’s largest technology company, hasn’t used much of its $146.8 billion in cash and investments for big acquisitions,” Saitto and Welch report. “PrimeSense investors include Canaan Partners, Silver Lake, Gemini Israel Funds and Genesis Partners. In addition to its use in gaming, PrimeSense has been developing new depth-sensing technology that allows for a 3D camera in a mobile phone to enable apps like indoor navigation tools or 3D shopping catalogs. PrimeSense also has said its technology can be used for measuring depth, allowing a person to take a photo of their living room into a furniture store to determine if a sofa would fit in the space.”

Read more in the full article here.

[Thanks to MacDailyNews Readers “Sarah” and “Arline M.” for the heads up.]

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