What’s really happening is that Color’s engineering team — about 20 people, comprising almost the entire company — is being “acqhired” by Apple at what’s being called a “nominal” price of something like $2 million to $5 million, according to multiple sources familiar with both sides of the situation. To repeat, there are no “double-digit” millions involved, according to many people familiar with the deal.
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.
Apple and Color both declined to comment. Color CEO Bill Nguyen did not reply to a direct query about the talent acquisition.
There seems to be more bad blood than agreement between Color employees, Nguyen, former Color employees, Color investors and Apple, which is why you’re seeing all these conflicting stories.