Maybe it's just us, but we tend to think that most companies who lose a quarter of a billion dollars over the course of three months probably don't do a whole lot of shopping for big-ticket items like, oh, let's say, other companies. But as we all know, Apple isn't "most companies." Sure, last quarter was drenched in red ink, but the company still has big piles of cash filling a secret underground swimming pool where the board of directors occasionally drops by for a quick dip. Apple's cash-on-hand is still measured in billions, so dropping a few dozen million here and there isn't going to break the bank. Still, though, Apple would probably be wise to avoid splurging on acquisitions at this stage of the game unless the company it wants to buy is really going to improve Apple's strategic position, and fast.

Enter PowerSchool, Inc. As faithful viewer cocomac informed us, Apple's latest press release indicates that Steve and the gang plan to absorb the "leading provider of web-based student information systems for K-12 schools and school districts" for the low, low price of $62 million. So is this a necessary and worthwhile purchase, or just an impulse buy, like a pack of Juicy Fruit in the checkout lane? Sounds to us like the former; Steve's official rationale is that "by acquiring PowerSchool and welcoming its talented employees to Apple, we instantly become the leading provider of web-based student information systems nationwide." (Yes, the press release really does use the exact phrase "leading provider of web-based student information systems" twice in the span of two paragraphs. Of course, we just used it three times in one paragraph, so who are we to criticize?)

Let's think for a second about what Apple's getting for its $62 million in stock. First of all, there's the PowerSchool product, which sounds pretty nifty; teachers get to manage their students' grades and info in real-time, and parents can get access to that data from any web browser. Then there are the 160 employees of PowerSchool who will be inducted into Apple's ranks, thus advancing General Steve's plan to amass an army for world domination that much further; perhaps more importantly, though, those selfsame employees would also be good at helping Apple turn PowerSchool into, say, iSchool-- which could be an iTool for education running off of Apple's servers, thus eliminating the need for the school to own a server and a T1 line in order to centralize its student info on the web. We're just guessing, of course, but hey, it sounds good to us.

But don't overlook the choicest benefit: Apple gets some good PR in the education sector. One of the reasons that Apple has been floundering in the schools recently was the company's utterly botched reorganization of how it handles educational sales. With any luck, this PowerSchool acquisition will be seen as proof that Apple is serious about getting its priorities back in place-- and Apple products back into schools. Think of it as Apple putting its money where its mouth is... $62 million worth. And don't worry; the Money Pool is still nice and full.