Apple Inc. has confirmed completion of their acquisition of Chomp - a San Francisco based start up set up to offer a specialised search engine for applications.
Even though neither of the companies were willing to disclose the financial terms of the deal, a report by Bloomberg claimed that the acquisition cost the iPhone maker around $50 million.
Chomp was the brainchild of Cathy Edwards and Ben Keighran, two Internet entrepreneurs of Australian origin. Keighran and Edwards founded the company with support from Kevin Rose (Digg founder) and Ashton Kutcher as advisers.
Apple however did not put forward an official statement regarding when and in what manner it is planning to integrate Chomp into its existing operations; which is not unusual for the company, as it often acquires tech companies without ever disclosing their motives behind such deals.
Interestingly, the new acquisition by the company has come at a time when the countdown has begun for the App Store's 25 billionth application download.
"My understanding is that such deals will remain intact for now but are likely to end once the Chomp team and product fully transitions over to Apple. The same is likely true for Chomp's stand-alone products," noted MG Siegeker of Tech Crunch in his report.