Apple Reportedly Acquires LuxVue
A developing story early Friday evening suggests that Apple has closed yet another promising acquisition (although it may be among the two-dozen companies Apple has acquired over the last year and a half. We simply don't know yet.)
In this case, Apple has purportedly inked a deal for an undisclosed sum to acquire LuxVue Technology, a low-profile company with huge prospects in the realm of micro-LED, screen technologies.
Given the late-breaking nature of this story, not much else is known about the deal except to say that Apple has much to gain from this hot young company. Despite being a quite presence in a highly competitive industry, LuxVue has raised tens of millions of dollars in funding to advance its far-reaching aims.
Apparently, something caught Apple's eye. And now the company finds itself absorbed by the iDevice maker. When asked for comment about the acquisition, Apple would only rattle off its usual speaking point through a representative when LuxVue was mentioned by name: “Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.”
MMi will provide additional insight regarding this acquisition in the coming days as more information likely comes to light.