feb 7, 1997 - Apple Buys NeXT Inc.
Description:
Apple Computer announced its plan to acquire NeXT on December 20, 1996. Apple finalized the deal in February 1997 and paid $429 million USD in cash, which went to the initial investors and 1.5 million Apple shares, which went to Steve Jobs, who was deliberately not given cash for his part in the deal. The main purpose of the acquisition was to use NeXTSTEP OS as a foundation to replace the outdated classic Mac OS. Jobs is brought back into Apple as an Advisor to then CEO Gil Amelio.
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