Apple gets OIO approval to acquire PowerbyProxi at a price exceeding $100M

Sophie Boot
Thu, 30 Nov 2017

By Sophie Boot Nov. 30 (BusinessDesk) - Apple Inc was granted Overseas Investment Office approval to buy PowerbyProxi last month for a consideration exceeding $100 million. The change in ownership of the New Zealand wireless power developer was confirmed by Apple last month, although the world's biggest technology company refused to provide any details or the terms of the agreement. However, a summary of the OIO approval released today shows the deal needed sign-off because it crossed the $100 million threshold to be considered significan...

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