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16 May 2017

Apple nets Lattice Data in $200m deal

The dark data processing technology developer, based on Stanford research, has been bought by Apple after raising about $20m from investors including In-Q-Tel.

Author: Robert Lavine, news editor, Global Corporate Venturing

US-based deep data analysis technology provider Lattice Data, based on research from Stanford University's DeepDive project, has been acquired by computing company Apple, TechCrunch has reported.

Apple paid “around $200m” for Lattice and the deal closed two weeks ago, a source told TechCrunch.

Founded in 2015, Lattice is developing machine learning software that can convert unstructured ‘dark’ data like text or images into structured data that can be analysed.

The company had raised $20m from In-Q-Tel, the VC arm of the US intelligence community, GV, which invests as a subsidiary of internet and technology group Alphabet, and venture capital firm Madrona Venture Partners, according to TechCrunch.

The acquisition and the fact GV and Madrona were investors in Lattice was first reported by Fortune, which put the acquisition price as between $175m and $200m.

– A version of this article first appeared on our sister site Global Corporate Venturing.

Copyright Mawsonia Limited 2010. Please don´t cut articles from www.globaluniversityventuring.com or the PDF and redistribute by email or post to the web without written permission.

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