The acclaimed mobile device giant, Apple Inc has acquired social media search and analytics
startup known as Topsy, for over $200 million, about N31,670,023,689 billion reports ITRealms.
This, industry
watchers say is ‘unusual purchase’ for a hardware-focused company that has made
inroads into social networking, according Reuters.
The report also stated that Apple confirmed the acquisition but would not say why it bought the
company, which specializes in analyzing Twitter data and providing insights
into current sentiment on a variety of topics.
The Wall
Street Journal, which reported the news earlier, cited people familiar with the
deal as saying Apple paid over $200 million.
"Apple
buys smaller technology companies from time to time, and we generally do not
discuss our purpose or plans," spokeswoman Kristin Huguet said.
Topsy did not
respond to requests for comment.
The iPad and iPhone maker often does what it
calls "bolt-on" acquisitions, small deals to acquire technology that
then gets integrated into existing or future products. Many of its acquisitions
in recent years have been angled toward improving hardware.
This year, it
paid a reported $350 million for Israeli 3D chip developer PrimeSense Ltd,
perceived as an effort to incorporate gesture technology into its devices. And
in 2008, it paid a reported $280 million for a semiconductor designer that
eventually yielded the current line of processors that power the iPhone and iPad.
Apple's main
effort in social media has revolved around Ping, a music-centered social
sharing network that was at one point integrated into its iTunes app. The
service, which lets users post music tracks they liked to a news feed, didn't
catch on and was shut down.
But the
California gadget maker has been increasingly making it easier for people to
share photos, videos and news through its devices and directly to social
networks such asFacebook and Twitter.
It also
operates iTunes Radio, an online streaming music service that competes with
Pandora and could benefit from Topsy's data on consumer sentiment.
Apple closed
0.9 percent lower on Monday and was holding steady in after-hours trading.
*Correspondents/GEE with additional report from Reuters.com
ITREALMS Online ... delivering news for ICT4DPix of Apple CEO Tim Cook
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