Apple Acquires Low-Power Display Startup LuxVue Technology.
Apple has secretly purchased over 24 companies during the past 18 months, CEO Tim Cook revealed during a conference call during the previous week following the company’s second quarter earning report, and has done a great job of keeping those deals form leaking out of Cupertino.
Unfortunately for them, one name did managed to slip out during Friday.
A Santa Clara-based startup that makes low-powered, micro LED-based display for use in consumer electronics, named LuxVue Technology, was recently acquired by Apple for an undisclosed amount, according to a report done by TechCrunch.
Apple had confirmed this acquisition on Friday.”Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans,” a company spokesperson said in a statement given.
It’s currently unclear during this time if LuxVue is one of the 24 companies that was mentioned by Cook last week, meaning the deal could have bee struck sometime during the past months, or if the purchase was a part of a recent string of acquisition that the CEO spoke of will not be loosing its momentum any time soon.
”[W]e’re on the prowl, I suppose you could say,” Cook said.
Even so, Apple’s frequent purchases of tech startups have continued to remain in a balanced pace and mostly secretive while other large technology corporations have to force themselves to make a bid deal about their high-profile purchases For Instance, Google’s $3.2 billion acquisition of smart device maker Nest and Facebook’s two surprising acquisitions of the virtual reality headset maker Oculus VR for $2 billion and messaging platform WhatsApp for a total of $19 billion, have gained them a load of media attention thanks to the price tags and strategic power plays at motion.
Cook has stressed the the reason behind Apple’s acquisitions are not to make a grand entrance into new markets by purchasing existing front-runners. Instead, its all about grabbing a hold of talent and technology potentially valuable to Apple’s core products and its experimental R&D in spaces like wearables and next-generations of mobile displays, for example.
“What’s important to us is that strategically it makes sense and that it winds up adding value to our shareholders over the long haul,” Cook explained. “We are not in a race to spend the most or acquire the most. We’re in a race to make the world’s best products, that really enrich people’s lives. And so to the tune that acquisitions can help us do that and they’ve done that and continue to do that, then we will acquire. And so you can bet that you will continue to see acquisitions and some of which we’ll try to keep quiet and some of which seems to be impossible to keep quiet.”