It turns out yesterday’s report about Apple buying Color for “high double digit millions” was mostly off base. At least that is according to AllThingsD:
The engineers could help with Apple’s photo and video-sharing capabilities across devices, or maybe Apple is just getting a HR jump on the competition in the red hot Silicon Valley talent marketplace.
Apple is not buying Color’s technology, intellectual property, domain names or liabilities. Those are being left with the company, which still has considerable cash in the bank — something like $25 million — and is going to be wound down.
Color is said to be winding down, with the $25 million it has left in the bank going to investors.
