Apple boosts app-tech credentials with MapSense acquisition
The digital mapping and navigation game has become increasingly competitive over the years, mostly because brands want their own proprietary technology to avoid reliance on present and future competitors. This has been evident in an acquisition strategy like Uber's, which has placed mapping capability at the forefront of long-term plans. Since its beginning, the ride share platform has relied on technology by creators like Google to power its navigation system.
This wouldn't be a problem if it weren't likely or even inevitable that Google will launch an Uber challenger. Similarly, Apple has recently purchased MapSense, a startup that analyzes location data, to help improve its Maps application. Long seen as a distant quality rival to Google Maps, Apple's Maps technology has significant room for improvement before it becomes a serious threat to Google's geography and directional dominance.
As is customary of Apple, company leadership has kept quiet about the intended plans for the purchase. However, industry experts say the deal was likely valued between $25 and $30 million, and includes the entire 12-person team at MapSense. This is not Apple's first time at the app-tech rodeo.
"It is not clear at the moment for what Apple will be using the MapSense technology, but we're hoping it will add to improving the company's Maps app for iOS devices," explains a staff post by Tech 2 News. "In the past, Apple has acquired mapping firms such as Locationary, WifiSLAM, Embark, and Broadmap as well."
The deal goes to show startup leaders that however small or modest your startup is in terms of scale, if it possesses the right technology and expertise, it might be quite valuable to a major tech buyer. With the guidance of an experienced M&A advisor, your brand can pursue, negotiate and sign a deal that helps achieve your growth objectives. Contact us today to learn more about the benefit of working with one of our advisors.