A startup was just purchased by Apple Inc., which is working on creating a lightning fast database. Many have assumed it as a sign that the American technology giant is looking for ways to ensure that its software services such as iMessage are able to work efficiently. The iPhone maker agreed to purchase FoundationDB, a startup based in Virginia that came up with database technology designed for crunching massive quantities of digital information in a very short amount of time. For data-reliant companies, these services are immensely valuable, especially for those firms that customize digital advertisements for websites.
The deal was officially confirmed by an Apple spokeswoman with a typical statement that was made after the acquisition was completed. She said that the Cupertino-California based firm was in the habit of purchasing small technology companies rather frequently, but it doesn’t discuss its plans and purposes regarding them. There was no statement made by representatives of the startup. According to software analysts, the type of database technology built by FoundationDB allows companies to process information at very high speeds without dealing with high costs in regard to computer servers and the employees needed for running them.
They were also of the opinion that the technology created by FoundationDB could prove to be quite helpful for Apple as it would aid the company in enhancing the efficiency of its services such as iAd, which places digital advertisements on mobile devices and iMessage that’s used for receiving and sending text messages. The financial terms of the deal were not made available to the public. A total of $22.7 million had been raised by FoundationDB and $17 million of this figure was raised in November 2013 alone. Apple Inc. has a cash pile that’s worth $178 billion and the acquisition of FoundationDB is the latest dip the company has made for buying up startups.
Tim Cook, the chief executive of the iPhone maker revealed earlier in the month that about 23 companies had been purchased by the firm in the last 15 months alone. Most of these acquisitions were small startups and their technologies would be incorporated in the sprawling operations of the technology giant. In other news, the company is all set to launch its iconic Apple Watch in the next month. As of April 10th, customers interested in purchasing the device can visit the Apple Store for trying it out before they preorder it. It will be officially available from April 24th.
The company has made great efforts in making the device with it being able to do almost everything that can be done with a smartphone including supporting Apple Pay, the new payment system of the firm. However, competition is tough in this market too as other models from competitors like Sony and Microsoft also exist. Furthermore, some Chinese knockoffs of the Apple Watch have already appeared in the market ahead the product’s launch, which could be potentially damaging. It is yet to be seen if the device will gain traction in the market.