London-based artificial intelligence startup SwiftKey has been acquired by tech giant Microsoft.
Founded eight years ago by friends and co-founders Jon Reynolds and Ben Medlock, the startup — which has raised over £20m in venture capital — produces keyboard apps for iOS and Android devices.
SwiftKey confirmed the news in a blog post:
“We’re excited to announce an important milestone on SwiftKey’s journey. As of today, we have agreed to join the Microsoft family.
“Microsoft’s mission is to empower every person and every organisation on the planet to achieve more. Our mission is to enhance interaction between people and technology. We think these are a perfect match, and we believe joining Microsoft is the right stage in our journey,” it continued.
A blog post penned by Microsoft’s
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“SwiftKey’s technology aligns with our vision for more personal computing experiences that anticipate our needs versus responding to our commands, and directly supports our ambition to reinvent productivity by leveraging the intelligent cloud.”
Shum said the tech giant would have more to say about how it was planning to integrate SwiftKey’s technology in the coming months.
The terms of the deal are undisclosed, but online reports say Microsoft may have paid $250m in cash.