Wednesday 10 April 2013

Apple acquires WiFiSlam

Apple confirmed on March 24 the acquisition of a start-up in Silicon Valley, called WiFiSlam specializing in designing map applications for smart phones. Apple hopes to develop its expertise in the field of inland navigation, facilitating the movement of users of such technology within public buildings. Technology WiFiSlam uses WiFi nearby user to determine the exact position - with an accuracy of 2.5 meters - of the smart phone holder. As usual, Apple has confirmed the purchase, but without giving details about it. The news was leaked at first by The Wall Street Journal, citing a person familiar with the case and that the Cupertino Company would have paid a whopping $ 20 million for the sapling.

Apple (Plans) and Google (Google Maps) are in a race to provide their users with better mapping and GPS tools. The company led by Tim Cook had even publicly apologized to the poor quality of the first GPS tool developed at the launch of the iPhone 5. Paradoxically, WiFiSlam be the work of two former Google employees. According to TechCrunch WiFiSlam could count on the support of angel investors including Naval Ravikant, Don Dodge and Felix Shipman. Recall that Apple has a war chest of about U.S. $ 137 billion in combined cash and investments, without calculating the cash flows generated from the last quarter. The Apple also presents its latest financial results on April 23. As its stock (AAPL-Q) is currently trading around U.S. $ 443, after playing in a swing between 419 and $ 705 range.

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