Another day, another signal that Apple’s long-awaited iWatch could be on the way. This time, Apple’s latest acquisition is LuxVue, a display company that specializes in miniature low-power displays.
Apple confirmed with TechCrunch that it purchased LuxVue, but wouldn’t say why.
Reportedly, LuxVue most recently raised $43 million from various venture capitalists, including Kleiner Perkins and iD Ventures America.
Apple’s gone on a buying spree over the past two years, acquiring companies both for their talent and their technology. In February it acquired app testing and distribution company Burstly.
In 2013, the company bought four mapping-related companies to beef up its own Apple Maps, which debuted to negative criticism.
LuxVue’s acquisition could make devices like the iPhone and iPad more energy efficient by reducing the display’s power draw.
The company also has micro LED patents, technology suited for manufacturing small displays like the rumored iWatch.
Apple CEO Tim Cook wasn’t shy about the company’s acquisitions. “We are expanding Apple’s products and services into new categories, and we are not going to under invest in this business,” said Cook, during the company’s second quarter earnings call. “We’re also investing through acquisition, and we’ve acquired 24 companies in the past 18 months. To invest organically and to make acquisition strategically, we need to maintain financial flexibility.”