Apple buys Chomp for est. US$50m from Aussie Entrepreneurs

25th Feb 2012. Technology blog TechCrunch and Bloomberg have reported that Apple (NASDAQ:AAPL) has announced the acquisition of San Francisco-based Chomp, which helps users sort through the widening array of software applications for mobile devices, for an estimated US$50 million.

Apple has confirmed the acquisition but not the price saying “we buy smaller technology companies from time to time and generally don’t comment on our purposes or plans.” according to Bloomberg.

Chomp’s software allows people to search through the hundreds of thousands of downloadable applications available for Apple’s iPad and iPhone, as well as gadgets running Google’s (NASDAQ:GOOG) Android operating system. Chomp is also a partner with Verizon Wireless (NYSE:VZ), which uses Chomp’s search technology in its app store.

Apple’s mobile devices lead the industry in applications, with more than 550,000 available in the company’s App Store alone. Apple is closing in on 25 billion total downloads from the store, the company said.

Founded in 2009 by Aussies Ben Keighran and Cathy Edwards, Chomp’s investors include BlueRun Ventures, SV Angel founder Ron Conway, Aydin Senkut, David Lee, Brian Pokorny and Auren Hoffman.

Chomp has raised just over $US2.5 million over two rounds of funding and has 20 employees.

Keighran moved from Sydney to San Francisco in 2007 where he raised $US6.5 million for his mobile social networking company Bluepulse.

Boosted by the success of the iPhone and iPad, Apple has accumulated $97.6 billion in cash and investments on its balance sheet.

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