20th December 1996
Apple buys NeXT, and Steve Jobs returns

On December 20, 1996, Apple Computer announced its intention to acquire NeXT.

Founder Steve Jobs left Apple after an internal power struggle in 1985 to start his new company, NeXT. Just over a decade later, Apple CEO Gil Amelio announced that Jobs would return to Apple, saying:

"Today Apple welcomed back its most talented visionary Steve Jobs, someone who can inspire a new generation of customers and software developers and show that Apple remains the industry home for innovation and excitement."

Steve Jobs responded by saying:

"I still have very deep feelings for Apple, and it gives me great joy to play a role in architecting Apple's future."

The deal completed on February 7, 1997, with Apple paying $427 million in cash and stock. Jobs initially returned to Apple as an advisor, but within a few months he was the company's interim CEO, and took on the role permanently in 2000.

Related information:

• Centre for Computing History: Steve Jobs
• Centre for Computing History: NeXT Computers
• AppleInsider: Looking back at Steve Jobs's NeXT, Inc — the most successful failure ever

Image:

• Steve Jobs at the Apple Expo in Paris September 17, 1998.
  Credit: Mousse Mousse — Reuters. Images remain the copyright of the original copyright holder. Used under fair use policy for educational purposes only.

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Steve Jobs leaves Apple to start NeXT