Apple has quietly acquired a startup in Europe specialising in tracking how people sleep.
The early-stage venture-backed startup makes a monitor which is put under pillows to collecting data which can be viewed via an app for iPhone and Apple Watch. It also raised cash via an Indigogo crowdfunding campaign. Founder and chief executive Lasse Leppäkorpi said late last year he believed there was an opportunity for Beddit to be the "Fitbit for sleep".
The Apple Watch has failed to replicate the blockbuster impact of the iPhone. However, sales have doubled in the last year, chief executive Tim Cook said in its latest earnings last week. Apple doesn't break down sales for the watch, but Cook said its wearables category, which also includes Airpods and Beats headphones, was comparable to a small Fortune 500 company.
Apple's market capitalisation shot above the $800bn mark for the first time this week, and it's sitting on a cash pile worth more than $250bn. Analysts at Citi identified seven companies as potential takeover targets to splash that cash on, with Netflix the most likely. Apart from its $3bn purchase of Beats in 2014, it has largely erred towards smaller acquisitions, some of them obscure startups.