Apple has acquired LuxVue Technology, a Santa Clara, California-based startup working on micro-LED screen technologies, according to a TechCrunch report. Apple confirmed the acquisition with the usual generic statement:
"Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans".
There isn't much known about LuxVue apart from the fact that the company develops next-generation, low-power, micro-LED-based displays for consumer electronics. As per the report, the iPhone maker acquired the company to beef up its own hardware innovations area.
LuxVue has already filed several patents on micro-LED technology, something which Apple could integrate into its mobile devices for better battery life and screen brightness.
As far as investments are concerned, the startup had attracted $43 million in funding from Kleiner Perkins, iD Ventures America, and others. The company's last funding round, a series C, was for $25 million in December last year.
John Doerr, partner at Kleiner Perkins, said last year that the startup's technology will be a game changer, as it will improve battery power by 300% compared to the usual 1-2% improvements that we normally see in the industry. The Silicon Valley venture capital firm now lists LuxVue on its website as “acquired”.
Apple's CEO Tim Cook noted in last month’s earnings conference call that the company has been on an acquisition spree, buying 24 companies in the last 18 months.