Liz Gannes & John Paczkowski, AllThingsD:
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. 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.
The team is “likely to work on cloud technology at Apple,” which sounds great for them. What does Bill Nguyen, Color’s head honcho, walk away with when all is said and done?