The Copland Crisis
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(he owned 45 percent), Jobs personally pocketed $100 million in cash and
all 1.5 million shares of Apple stock, which he agreed not to sell for at least
six months. All NeXT products, services, and technology research became
part of Apple. Amelio later admitted that Apple overpaid for NeXT, but it
had little choice given the dire straits the company was in at the time.
Amelio told the world, “The next chapter in Apple’s history begins
today” with the merger of Apple and NeXT. In explaining the choice,
Amelio wrote, “As we looked at various partners for our operating system
development, we discovered that Apple and NeXT had surprisingly
complementary products, technologies, and services. In fact, the more ...