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Apple Mulled Acquisition Offer for Square, but Deal Looks Unlikely for Now

With a goal to overhaul the online payments industry and a new revolving credit facility worth $200 million, analysts and technology pundits are wondering where Square is headed next. At least one theory proposed by Re/code explores the possibility of an Apple acquisition. Both Apple and Google have been rumored to be in talks with Square in the past year about a possible acquisition, but no firm offers have been made. Square is not actively trying to sell the company, but insider sources claims it would entertain a premium offer, unless it was from Google. Either way, a sale to Google would disappoint [founder and CEO Jack] Dorsey, according to multiple people familiar with his thinking. For one, he was reportedly put off by Google after being involved in acquisition talks between his former company, Twitter, and the search giant. He also believes, sources said, that his company’s design aesthetic and values match up much more closely with Apple than Google. Square has close ties to Apple, with its hardware chief Jesse Dorogusker leaving his position as director of engineering for iPod, iPhone and iPad accessories at Apple to join the mobile payments startup. A Square acquisition would be beneficial for both Apple and Square, claims Re/code. Square's future would be secured by Apple's cash reserves and its favorable position in retail, while Apple would be able to use Square's payment expertise to jumpstart any plans it has for a mobile payment system. Apple, though, may be ready to enable online purchases via an iPhone, but it likely is not ready for the robust