Apple (AAPL) Bolsters 'Maps' Development with Purchase of Locationary
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Overall Analyst Rating:
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Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
EPS Growth %: +20.4%
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Apple (Nasdaq: AAPL) recently made another small acquisition with the purchase of Locationary, according to reports out Friday.
Locationary, based in Toronto, Canada, specializes in crowd-sourced data for local businesses and locations. The deal covers both the talent and technology of Locationary and a sum for the purchase was undisclosed.
The goal for Locationary is probably to improve Apple Maps, which was highly criticized last year following multiple reports of the navigation system directing people to undesired locations (e.g. - the side of buildings, an IRS office, your in-laws).
As pointed out by AllThingsD today, Locationary founder Grant Ritchie scribed a column for TechCrunch last year, highlighting 10 things wrong with Apple Maps. Well, Grant, now's your time to shine.
Shares of Apple are up in early trading.
Locationary, based in Toronto, Canada, specializes in crowd-sourced data for local businesses and locations. The deal covers both the talent and technology of Locationary and a sum for the purchase was undisclosed.
The goal for Locationary is probably to improve Apple Maps, which was highly criticized last year following multiple reports of the navigation system directing people to undesired locations (e.g. - the side of buildings, an IRS office, your in-laws).
As pointed out by AllThingsD today, Locationary founder Grant Ritchie scribed a column for TechCrunch last year, highlighting 10 things wrong with Apple Maps. Well, Grant, now's your time to shine.
Shares of Apple are up in early trading.
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