Apple acquires Swedish software start-up
Three years after buying computer vision-company Polar Rose, Apple has acquired another start-up from southern Sweden. Rapidus can today reveal that the technology giant has bought AlgoTrim, a software developer specialized in compression algorithms for mobile phones.
AlgoTrim has developed algorithms for lossless compression of processing instructions in operating systems and applications. Apart from speeding up processing, the compression reduces the use of flash memory in for exampel RISC-processors.
Focus of the last few years has been Android-based mobile phones and by the end of 2011, the software was calculated to be present in approximately 100 million phones from several major players.
The company was founded in Malmö in southern Sweden in 2005 by Anders Berglund, Anders Holtsberg and Martin Lindberg. All three of them have a background from computer vision developer Decuma, later acquired by Nasdaq-listed Zi Corporation.
In February of 2013, all of AlgoTrims shares were acquired by the anonymous Delaware-based holding company Wedgwood Industries LCC. But according to solid information revealed to Rapidus, Apple is the real buyer behind the deal.
Anders Holtsberg, head of software development at AlgoTrim, recently moved to Silicon Valley, a mere 15 minute car ride from Apples headquarters in Cupertino. When Rapidus calls him via Apples central switchboard, he confirms that he is now working for Apple but declines to comment any further. Anders Berglund, former CEO of AlgoTrim, is also very taciturn.
- I’m sorry but I’m not allowed to comment on anything, he says to Rapidus.
In the latest year end-report, AlgoTrim reported a revenue of 3,0 million SEK, with an net income before taxes of -1,1 million SEK. The company had a handful of employees. As with Polar Rose, acquired by Apple in 2010 under similar secrecy, AlgoTrim grew out of the Malmö-based incubator Minc.