Apple to Acquire Color Labs

Apple to Acquire Color Labs

After it was announced only yesterday that Apple had acquired HTML5 web firm Particle, The Next Web reports that we could be seeing another imminent takeover, this time of social network startup Color Labs.

It has come upon some hard times of late, and Apple probably see this as an ideal opportunity to not only takeover a relatively young company but also to get hold of some fairly significant patents, including one for an HD video file format.

The figure is estimated to be in the ‘high double digits’, according to the source, while the deal is reportedly ‘done’, even though pen hasn’t yet been put to paper.

Originally funded with $41 million pre-launch, it has had a tumultuous few years, with many major changes ranging from the service itself to the leadership. Hopefully an Apple takeover will give it the stability it desperately needs – although in reality, the acquisition is probably more about talent and patents than keeping Color alive…

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