Apple buys Kiwi wireless charging developer PowerbyProxi
- 25 October, 2017 06:43
Doing an Apple: PowerbyProxi reappointed founder Fady Mishriki as CEO in 2013
Apple has bought wireless charging technology developer PowerbyProxi, a company spun out of Auckland University research in 2007, for an undisclosed sum.
PowerbyProxi has has attracted previous international investment from the likes of Samsung after developing around the Wireless Power Consortium's future Qi wireless charging standard.
The company is owned by a who's who of local and international investors led by VC fund Movac with 20 per cent and founder Fady Mishriki with 18 per cent.
In 2013, Apple's arch rival in mobile phones, Samsung, invested $4 million in the company. It is currently listed as owning nearly 10 per cent of PowerbyProxi's shares.
PowerbyProxi designs and develops high efficiency and high density wireless power transfer technology for mobile phones, rechargeable batteries and industrial uses.
It takes its technology to market through licensing partnerships in consumer electronics markets and direct end product sales in non-consumer electronics markets.
"We solve mission-critical problems in demanding, hostile industrial environments where the delivery of consistent power is imperative," the company's website says.
Stuff reported that Apple announced the acquisition on Wednesday, quoting senior vice president of hardware engineer Dan Riccio saying: "We want to bring truly effortless charging to more places and more customers around the world."
Mishriki said there was "tremendous alignment" between Apple's and PowerbyProxi's values, however, he was not allowed to comment further.