We told you of Apple's acquisition of the domain iPhone.com the other day, however, many of the details were unknown at the time. We finally have some solid facts on just how Apple got their hands on the domain.

Apparently, a very smart (and lucky) Michael Kovatch purchased the domain iPhone.com back in 1995 while running his own ISP. He knew that one day the internet would allow phone calls, so IPhone would be a great name. Apple has apparently been talking to him for some time regarding the domain, and he has been very reluctant to sell it to them. He has been working for some time building a company on the domain, and did not want to throw that all out the window for some money.

However “some money” turned out to be a lot of money. We don't know for sure, but the number has 7 digits, so it's at least a cool million. I'd say that's a pretty decent profit off of a relatively inexpensive domain registration and some foresight.

IPhone.com has been acquired by Apple [via domaintools]