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Apple Acquires Tiny LED Display Maker LuxVue Technology

May 2 (Bloomberg) -- Apple Inc. purchased LuxVue Technology Corp., a startup that specializes in power-efficient displays that could be used in small consumer devices lacking space for bulky screens or batteries.

“Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans,” Kristin Huguet, a spokeswoman for Apple, wrote in an e-mail.

Apple has ramped up its dealmaking pace, purchasing 24 companies over the past 18 months as it develops and improves products. The Cupertino, California-based company is said to be readying bigger-screen iPhones, a watch-like wearable device and a new Apple TV set-top box.

LuxVue, based in Santa Clara, California, was founded in 2009 and counts venture capital firm Kleiner Perkins Caufield & Byers as an investor. Kleiner’s website lists LuxVue as “Acquired.” Terms of the deal weren’t disclosed.

Last month, Apple Chief Executive Officer Tim Cook said on an earnings call that the company currently is “comfortable in expanding the number of things we’re working on and so we’ve been doing that in the background and we’re not ready yet to pull the string on the curtain.” He added that the company isn’t averse to making acquisitions to augment its business.

Apple is holding its annual developer conference next month, when it is anticipated to unveil new software for the iPhone, iPad and Mac.

Technology blog TechCrunch reported on the acquisition earlier today.

To contact the reporter on this story: Peter Burrows in San Francisco at pburrows@bloomberg.net

To contact the editors responsible for this story: Pui-Wing Tam at ptam13@bloomberg.net Reed Stevenson

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