Apple “announced on Wednesday that it had bought PowerbyProxi for an undisclosed sum,” Read and Pullar-Strecker report. “It confirmed plans to keep the business in New Zealand. Auckland entrepreneur Fady Mishriki set up PowerbyProxi in 2007, as a spin-out from Auckland University, with the goal of helping people charge everyday devices such as mobile phones without having to plug them in.”
“The company now employs about 55 staff and holds more than 300 patents relating to wireless charging,” Read and Pullar-Strecker report. “Shareholders contacted have so far remained silent on what Apple paid for the business… Based on the price paid for the company’s shares by earlier investors, the price paid by Apple appears likely to be at least in the high tens of millions and could be into 10-figures. Apple senior vice president of hardware engineering Dan Riccio said Powerbyproxi’s team would be ‘a great addition as Apple works to create a wireless future… We want to bring truly effortless charging to more places and more customers around the world.'”
Read more in the full article here.
MacDailyNews Take: Congrats to PowerbyProxi founders and investors!
Note also the vehicle connection: