Deals · Updated 11 Oct, 01:20 am IST
Apple to hire Huxe team and license its tech in reverse acqui-hire
Why it matters for readers: It explains why some startup apps disappear while their teams continue working on similar tech at bigger companies.
- Apple told the European Commission it has agreed to hire certain employees of Huxe AI.1
- Apple will receive a non-exclusive license to Huxe’s intellectual property as part of the deal.1
- Huxe, a personalized audio startup founded by developers who worked on NotebookLM features, announced it was shutting down on May 21 and removing its app from Apple and Google stores.1
- This type of arrangement — often called a reverse acqui-hire — lets larger companies hire startup teams and license technology without buying the company outright.1
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