Microsoft acquired UK based start-up firm SwiftKey, maker of a predictive keyboard powered by artificial intelligence.
Both companies confirmed the deal but did not disclose the financial details. The Financial Times reports the deal is worth $250 million.
As per the company, SwiftKey software keyboard and SDK powers more than 300 million Android and iOS devices.
SwiftKey launched on Android in the year 2010 and arrived in the Apple App Store in 2014. Co-founders Jon Reynolds (CEO) and Dr. Ben Medlock (CTO), Cambridge University graduates started the company in 2008.
SwiftKey estimates that its users have saved nearly 10 trillion keystrokes, across 100 languages, saving more than 100,000 years in combined typing time.
Jon Reynolds and Ben Medlock, co-founders of SwiftKey confirmed that post acquisition the apps will continue to be available on Android and iOS, for free.
Announcing the acquisition, Microsoft’s executive vice-president of technology and research Harry Shum, said: We’ll continue to develop SwiftKey’s market-leading keyboard apps for Android and iOS as well as explore scenarios for the integration of the core technology across the breadth of our product and services portfolio. Moreover, SwiftKey’s predictive technology aligns with Microsoft’s investments and ambition to develop intelligent systems that can work more on the user’s behalf and under their control.
Swiftkey has already raised more than $20 Million in venture capital, from investors including Accel Partners, Index Ventures and Octopus Investments.It has offices in London, San Francisco and Seoul, as well as people in India and China.