Apple buys Silicon Valley startup WiFiSlam

NEW YORK, March 24 Sun Mar 24, 2013 1:44pm EDT

NEW YORK, March 24 (Reuters) - Apple has acquired a Silicon Valley startup, WiFiSlam, which makes mapping applications for smart phones.

Apple confirmed the acquistion, but declined to give details. The news was earlier reported by The Wall Street Journal, which quoted a person familiar with the matter as saying that Apple paid around $20 million for the company.

"Apple acquires smaller technology companies from time to time, and we generally do not discuss our purpose or plans," an Apple spokesman told Reuters.

WiFiSlam develops technology that provides indoor tracking and similar services. Big tech companies such as Apple and Google have been racing to provide more and better map applications for users. Google's application, Google Maps, is widely accessed on Google's Android platform and rival Apple's rival iOS platform.

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