There has been a lot of speculation about upcoming acquisitions by Apple after Steve Jobs said Apple's $51 billion cash on hand allowed the company to make major acquisitions if it seemed fit, so when the rumor went live, it quickly spread to major news sites and tech blogs, including ours."The rumor is false. Wi-Gear and its IP are still available for sale."
Barrons' Eric Savitz said the Wi-Gear story resulted from 9to5 Mac's discovery on LinkedIn that a former Wi-Gear engineer was now employed with Apple. Wi-Gear's website notes that the company "has ceased operations and is no longer in business."