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January 7, 1997updated 04 Sep 2016 12:52am

APPLE PAYS DOUBLE FOR 20% NEXT STAKE

By CBR Staff Writer

Canon Inc is accepting a loss of face and has decided to pull out of personal computer manufacture, but it seems that Apple Computer Inc has rescued it from much more embarrassment by paying twice what Canon paid for its 20% stake in NeXT Software Inc. Canon says the realignment of its computer-related business will also include a move into production of silicon wafers. Canon will transfer the running of its personal computer operations to its sales subsidiary and have Taiwanese manufacturers build Canonbranded computers for it to sell. The company plans to start sample shipments of low power consumption Silicon-on-Insulator wafers to major chip makers next summer after investing around $26m to build a clean room for production at its plant in Hiratsuka, south of Tokyo. Meantime, Ross Perot, which had written off the $10m he invested in NeXT Software Inc also apparently doubled his money on the investment.

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