Thursday, August 29, 2013

Apple gobbles Swedish startup AlgoTrim

SAN FRANCISCO -- Apple has acquired a Swedish software startup's technology for use in mobile devices.

Apple spokeswoman Kristin Huguet confirmed the acquisition. Terms of the deal were not disclosed.

"Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans," Huguet said in a statement.

AlgoTrim develops technologies used in data compression, mobile images and video as well as computer graphics that are targeted at mobile devices.
Apple shares rose 0.5% to $490.90 in trading.