It was a deal that Google made yet tried to hide: the company paid Apple $1 billion to be the default search engine on iPhones and other iOS devices.
The deal was unveiled during a court hearing for an unrelated issue. Google and Apple made the deal back in 2014, and it included an agreement to share revenue that comes from the searches in the form of ads.
No details regarding the split of revenue has been revealed.
According to Google’s latest quarterly earnings report, there was no mention of the deal between the two companies. The reports are done to reveal any important business agreements, yet this appears to not be considered important by Google. Bloomberg News reports that Google requested information regarding the deal to be kept secret due to in being “highly sensitive”.
Their argument was that revealing the deal could impact future deals in a negative way. Bloomberg also states that the transcript of the filing “vanished” from electronic court records without any details whether the court ruled in favor of Google’s request.
Ultimately, the information came out, leading to more questions about other deals that companies like Google and Apple are in that investors may not know about.