Apple has reportedly acquired LuxVue Technology that specializes in low-power micro-LED displays.
Apple has reportedly acquired LuxVue Technology, a tech firm that specializes in the development of low-power, micro-LED displays. The use of such technology for Apple is a perfect fit for its iWatch, which can use micro-LED screens that are power efficient.
While the acquisition is still unofficial, a company spokeswoman confirmed the deal to TechCrunch without revealing much details. The report adds that the Santa Clara, California-based tech company has maintained a relatively low-profile despite its highly valuable participation in the tech industry.
"Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans," Kristin Huguet, a spokeswoman for Apple, wrote in an e-mail, Bloomberg reports.
LuxVue Technology was founded in 2009 and its expertise lies in the development of micro-LED screen that consume less energy than other LED screens. The tech company had also filed several patents for its power efficient displays since last year, Venture Beat reports. Google might also be planning to integrate the micro-LED tech for its Glass.
Another confirmation of LuxVue's acquisition comes from one of its investor websites. Kleiner Perkins Caufield & Byers, a venture capital firm that raised $43 million together with iD Ventures America and others, has listed LuxVue's status as acquired.
Apple has added 24 companies to its portfolio over the past 18 months. The Cupertino giant has been readying big-screen iPhones and a new set-top box, but details on either product remain under wraps.
