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Apple & Google said to consider bid for Square mobile payments company

by David Needle

April 9 2014

Both Apple and Google have considered making acquisition offers for payments company Square, with Apple's bid apparently favored by Square CEO Jack Dorsey. 

Rumors of the interest, reported by Re/Code, are new though the report says that talk of the deal has been percolating for a while: 

"In the last year, both Apple and Google have considered making acquisition offers for Square, according to industry sources familiar with the situation." 

The report notes Apple would have to pay as much as $8 billion to acquire Square. But on the flip side, a deal would have a lot of synergy since Apple already has hundreds of millions of credit cards on file through its iTunes service and could use those along with its own digital wallet Passbook as the foundation of its own mobile-payments offering for consumers.

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