Apple is again using some of its massive cash pile to make acquisitions. TechCrunch said Friday that it has discovered Apple recently acquired a company called LuxVue. According to a profile in Bloomberg-Businessweek, LuxVue “develops low-power, microLED-based displays for consumer electronics applications.” It was started in 2009 and is based in Santa Clara, California.
So why does Apple need a low-power LED company?
Well, with rumors that it’s working on an iWatch, low-power displays will be super important, particularly when it comes to providing long lasting battery life. Some rumors have already suggested that Apple has tapped LG for the curved displays used in the iWatch, however, so Apple may use the LED technology in a totally different fashion.
“Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans,” Apple told TechCrunch when asked for comment. It’s not uncommon for Apple to quietly buy companies. According to TechCrunch, Cupertino has scooped up 24 companies in just 18 months, and the news outlet surmises that LuxVue is among those buys.