Apple announced on March 12, 2018, that it will be acquiring the digital magazine service Texture, which serves articles from more than 200 magazines digitally
American technology giant Apple intends to acquire entire digital magazine company, including staff. Texture allows readers to access over 200 magazines for a monthly fee on iOS, Windows, Amazon, and Android devices. Also, company ensured that Android version of the app will be supported. However, the company did not disclose the price of the acquisition. Texture was established in 2010 and was formerly called Next Issue until it rebranded in 2015. In, 2016 report from The New York Post quoted Texture CEO John Loughlin saying that the service had ‘hundreds of thousands’ of subscribers.
Latest acquisition of Apple is focused on developing strong network between tech companies and journalism. Apple provides news from third-party publishers through Apple News platform. “We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users,” said Eddy Cue, Apple’s SVP of internet software and services. The company intends to match services provided by competitors such as Google, which offers news through Play Store and Amazon, which has own subscription reading services.
Apple has acquired various companies in past. For instance, it acquired Beats in 2014, which included not only the company’s hardware but its streaming music service, which ultimately led to Apple Music. Also in 2014, Apple acquired BookLamp, a service that distributed books in much the same way that Texture distributes magazines.