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Microsoft buys SwiftKey

Microsoft buys SwiftKey

According to reports, Microsoft paid $250m for the UK artificial intelligence firm, whose software is currently installed on more than 300m smartphone and tablets worldwide.

For those who are unaware of SwiftKey, once installed the application replaces the default on screen keyboard for smartphones and tablets. The company’s application originally launched in 2010 for Android devices, followed by Apple iOS devices in 2014. Prior to this time, third party keyboard applications were banned from Apple devices.

SwiftKeyIn addition to its work with the popular smartphone application, SwiftKey technology is also known for creating the computer software used on Prof Stephen Hawking’s wheelchair.
The company said the sale was a “milestone” in its history.
“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 next stage in our journey,” said SwiftKey’s founders Jon Reynolds and Ben Medlock.

Announcing the acquisition, Microsoft’s executive vice-president of technology and research Harry Shum, said: “We’ll continue to develop SwiftKey’s market-leading keyboard apps for Android and iOS as well as explore scenarios for the integration of the core technology across the breadth of our product and services portfolio.”

The financial times has reported that the deal is currently worth $250m, however, SwiftKey’s latest financial results revealed that its revenues fell from £9.88m in 2014 to £8.41m in 2014.