Microsoft has acquired Mobile Data Labs, a startup that develops mileage-tracking app MileIQ. As part of the deal, MileIQ will continue to exist on iOS and Android, but the team behind the app will join the Microsoft team. Financial details of the buyout weren't disclosed.
Mobile Data Labs was founded in 2011 by Dan Bomze and Chuck Dietrich. Its investors include Salesforce co-founder and CEO Marc Benioff. The app is widely popular on iOS and Android platforms with a user base of over 1 million people.
The app utilises a handset's sensors to calculate mileage, a feature that is popular among business travellers. The Redmond-based company says that users can save up to $547 (roughly Rs. 36,000) in business miles using MileIQ app. This explains why the app has been on a 20-month streak of being one of the top-grossing finance apps on the App Store.
"The team will continue to build and offer mobile productivity solutions and look to take advantage of insights from Office 365 and the Office Graph," Microsoft Office 365 and Outlook corporate vice president Rajesh Jha wrote in a blog post. "By partnering with Microsoft, our horizon and momentum are now even bigger-and our ability to deliver excellent products, delightful experiences and personalized service is greater than ever," wrote Chuck Dietrich, CEO and co-founder at MileIQ.
It would appear that the acquisition will mean the arrival of this handy app to the Windows Store, but considering Microsoft's recent track record, the move is likely part of the company's aggressive run to increase its presence on rival platforms.
Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.