Apple purchased LuxVue Technology said sources familiar with the deal while the latter has raised $43 million in funding round from iD Ventures America, Kleiner Perkins and other financiers.
LuxVue Technology, a company working on micro-LED technologies incorporated on screens.
In a statement Apple said, “Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.”
The statement would have meant a confirmation on the acquisition as this was what companies usually issue after acquisitions.
LuxVue had been stealthy in the past years. The market only knows that the company makes low-power micro-LED displays for consumer electronics. The acquisition was made by Apple to have added innovations in its hardware division, said sources.
As LuxVue works to create micro-LED displays, this could mean that the company’s technology could also be used in Apple products to increase its battery life and the brightness of its gadgets’ screens.
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