“Apple paid around $20 million for the Silicon Valley-based company, according to a person familiar with the matter who said the deal closed recently” Lessin reports. “An Apple spokesman confirmed the deal saying the company ‘buys smaller technology companies from time to time’ and generally doesn’t discuss its plans.”
Lessin reports, “The two-year-old startup has developed ways for mobile apps to detect a phone user’s location in a building using Wi-Fi signals. It has been offering the technology to application developers for indoor mapping and new types of retail and social networking apps… The move comes as Apple continues to build its arsenal against Google in mapping… Google already offers indoor mapping in certain locations like airports, shopping centers and sports venues.”
Read more in the full article here.
[Thanks to MacDailyNews Reader "Bill" for the heads up.]