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March 25, 2013

Apple acquires indoor map app maker

Buys WiFiSlam for an estimated $20m

By CBR Staff Writer

Apple has acquired the smartphone mapping application maker WiFiSlam for an undisclosed amount. The company is estimated to have spent about $20m for the acquisition, according to the Wall Street Journal.

WiFiSlam develops indoor tracking technology for the smartphones and the company leverages the strength of its Wi-Fi signals to let users find out their location inside buildings.

WiFiSlam was quoted in AngelList saying, "Applications range from step-by-step indoor navigation, to product-level retail customer engagement, to proximity-based social networking."

Earlier, Apple was reported to be in discussions with Foursquare Labs to incorporate its location-based data into iOS mapping applications.

Apple dumped Google’s mapping software in its iOS 6 mobile operating system to use its own mapping app but it faced glitches, leading to the sacking of head of iOS Scott Forstall.

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