Apple confirms acquisition of Swedish data compression company AlgoTrim [u]

Apple Insider 28 August
Apple has confirmed the purchase AlgoTrim, a Swedish startup that specializes in data compression, in a deal that could allow the company to make services such as iTunes more efficient for mobile devices like the iPhone.

Update: After word of the AlgoTrim deal first surfaced Wednesday morning, Apple subsequently confirmed to AllThingsD that the deal did in fact take place. As is the company’s policy, it declined to comment any further.

AlgoTrim “builds codecs and designs solutions that maximize performance of data, mobile imaging, video and computer graphics while minimizing memory requirements,” according to TechCrunch. Apple’s alleged purchase of AlgoTrim was first reported by Swedish news agency Rapidus.

Apple is said to have discreetly hired AlgoTrim through a Deleware-based holding company named Wedgwood Industries LLC. That company allegedly acquired all of AlgoTrim’s shares this February.

AlgoTrim’s technology simultaneously speeds up processing of data, while also reducing file sizes, allowing for connected devices with limited capacity, like the iPhone, to become more efficient and powerful.