Apple recently engaged in an acquisition deal that saw it acquire a data intelligence startup firm known as Lattice Data.
Apple’s new acquisition of Lattice Data is part of the company’s plan to push more aggressively into artificial intelligence and machine learning. The tech giant has acquired the startup so that it can strengthen its position in the two sectors. Lattice Data was an attractive option for Apple because the AI firm’s forte is turning unstructured data into usable structured information. The acquisition deal is reportedly worth $200 million and the two firms closed the deal a few weeks ago.
What to expect from Apple courtesy of this deal
Apple has not released any official statements regarding the acquisition perhaps as part of its plan to avoid disclosing its dealings to rivals. However, the information was leaked thanks to undisclosed sources. The Lattice Data acquisition raises questions as to what Apple is really working on. Lattice had previously been talking to technology companies about enhancing their AI assistants. This gives a pretty good idea of what the startup will be doing as part of Apple. In addition, about 20 engineers from the AI startup will be absorbed by Apple as part of the acquisition.
“Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans,” One of Apple’s spokespersons told TechChrunch.
One of the reasons why Lattice Data is such a good fit for Apple is because AIs regularly need to be fed structured data so that they can offer sensible data. This means that the company can help develop Siri so that it can handle more commands from users. It can basically be used to make the AI better at searches.
The acquisition of Lattice Data further solidifies Apple’s position in the AI industry. This makes it a vital piece of the company’s long-run plans for the company. There have also been rumors that Apple has been working on a Siri-based speaker that will be launched soon though the company is yet to confirm these claims. Whatever the case, the acquisition definitely aligns with the tech giant’s plans for the future, especially plans to be better than rival AI services. These include Google home from Alphabet Inc (NASDAQ:GOOGL) and Alexa from Amazon.com, Inc. (NASDAQ:AMZN). Apple will hopefully reveal more about the acquisition during its WWDC this year.
Apple stock closed the latest trading session on Friday at $156.10