Three deals – one by Apple, two by Google, shows that big tech firms still have a lust for startups despite antitrust probes, says venture capital and private equity news site PitchBook.
“All three recent acquisitions have the potential to shore up the companies’ core money makers—which include devices in Apple’s case and ad revenue and cloud computing in Google’s,” PitchBook reports.
“Xnor.ai makes technology that allows AI to operate locally on low-power devices, which could help free Apple’s products from relying on the cloud for complicated tasks. Pointy gives Google an edge in ads for brick-and-mortar stores, while AppSheet has the ability to bolster the tech giant’s cloud division with its no-code application software.”
Apple bought Xnor.ai for a reported $200 million in a deal disclosed Wednesday.
Google paid some $164 million for Pointy and an undisclosed amount for AppSheet in deals reported Tuesday.