If Microsoft and Apple weren't able to build good alternatives, what makes people think that they won't fuck up an acquisition? Clearly storage for them isn't a priority. So I don't get it. But then I wasn't much into sports either.
Building something is hard. Writing a check is easy. Apple could easily make the payout contingent on a smooth integration. Apple could even have a foreign subsidiary purchase Dropbox, thereby allowing for full use of its external profits it hasn't brought back to the US due to taxes.
That's the benefit of cash. It solves almost every problem.
They have rules to prevent this. See IRC Section 956. In essence, the use of a foreign sub to acquire a US company would be treated as a deemed dividend back to Apple.
I'm not a tax expert, but I think dropbox would have to be a foreign company in order for them to purchase it with foreign cash and avoid tax problems.
