According to sources familiar with the matter, the U.S.-based tech giant – Apple Inc. – has recently bought a data mining and machine learning company called Lattice.io. The acquisition of Lattice.io was confirmed by the iPhone maker to Fortune exclusively via telephone on Saturday.
Lattice is a little known Artificial Intelligence startup, Here’s more about the company
In an email to news site Fortune, the iPhone making giant gave the following statement, “Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.” There is not much information available about the Artificial Intelligence based startup company publicly, however, according to the CrunchBase profile of the company, the data mining and machine learning startup was born out a Stanford research project called DeepDive.
The technology of the company seems to use machine learning to parse through database to answer queries, according to reports by Fortune.
The AI-based startup was co-founded by Michael Cafarella, a professor of computer science at the University of Michigan, and Chris Re, a professor of computer science at Stanford. Michael Cafarella was also the co-creator of Hadoop (Hadoop is a widely used big data processing technology). In addition to this, Cafarella was previously an engineer at telecommunications company TellMe Networks. The Redmond-based hardware giant – Microsoft – acquired TellMe Networks in 2007 for over $800 million.
Lattice’s tech is similar to GOOG
The Deep Dive program of the professor is able to understand “dark data” that provides information within illustrations or images, according to this 2015 profile on Re. The technology of the startup is similar to the Knowledge Graph (“GOOG) of the search giant ‘Google.’ GOOG is the technology of the internet giant that understands relationships between things, people and places. Further, GOOG provides answers to questions such as “What is the capital of California?”
The acquisition price of the startup was between $175 million and $200 million, according to a person familiar with the matter. The startup had raised an unrevealed amount of funding from GV, the venture arm of Google-parent Alphabet, and Madrona Venture Group. The Chief Executive Officer of Lattice is Andy Jacques, a seasoned enterprise executive who joined that startup just last year.