Cupertino-based Apple Inc. has announced this week that it inked an agreement to buy Texture, a digital magazine. Texture serves various articles for digital magazines numbering to 200. The digital magazines were published with a monthly fee in Windows, iOS, Android devices, among others.
Founded in 2010, Texture was known previously as the Next Issue. The company rebranded itself back in 2015. The company was founded by magazine publishers, and it raised $50 million from various company investors.
Apple is acquiring Texture
Also, Texture was launched in the hope that iPads and tablets could be a major platform for premium subscriptions. But obviously, what appears and becoming clear is that the future was not actually panning out.
Now the software giant has actually bought the whole company including the staff. Apple has assured that users that there would be an Android version of the app. However, Apple did not declare the acquisition price as of this posting.
“We’re excited Texture will join Apple, along with an impressive catalogue of magazines from many of the world’s leading publishers. We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users,” Apple SVP Eddy Cue said in a statement on Monday.
Meanwhile, Texture CEO John Loughlin said: “I’m thrilled that Next Issue Media and its award-winning Texture app are being acquired by Apple.”
“The Texture team and its current owners, Condé Nast, Hearst, Meredith, Rogers Media, and KKR, could not be more pleased or excited about this development. We could not imagine a better home or future for the service,” Loughlin added.