Formula 1
Apple in talks to purchase McLaren
Formula 1

Apple in talks to purchase McLaren

Published Sep. 21, 2016 11:59 a.m. ET

Apple is said to have "approached" the McLaren Technology Group about a potential acquisition, according to a report in the Financial Times.

The company includes the road car concern, McLaren Automotive, and engineering specialist McLaren Applied Technologies, as well as its F1 team. Its main shareholders are Ron Dennis, Mansour Ojjeh, and Bahrain's Mumtalakat. Dennis has been actively seeking new investors in recent years.

The obvious driver for any deal would be McLaren's technological expertise, although its not clear exactly what direction Apple's road car ambitions are taking.

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The Financial Times stressed that "Apple's interest in the Woking-based company centers on its technology, engineering prowess and patent portfolio, according to people briefed on the talks. However, those people cautioned that it was unclear if a deal would go ahead following a recent shift in Apple's car strategy."

UPDATE: However, as the story gathered momentum, McLaren denied that there was any truth to it by stating: "We can confirm that McLaren is not in discussion with Apple in respect of any potential investment."

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