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Koch Industries Bought A Company That Supplies Parts To Apple For $7.2 Billion

Steve KovachSep 9, 2013, 20:41 IST

APDavid Koch, co-owner of Koch Industries.Koch Industries, the giant conglomerate that dabbles in everything from oil to manufacturing, announced today that it will buy electronics company Molex for $7.2 billion.

Molex makes electronic connectors, or the stuff that holds internal components together inside gadgets likes smartphones. The company is one of Apple's component suppliers.

If the deal goes through, Molex will operate as an independent subsidiary of Koch Industries.