Apple announced the impending acquisition in a news post this week. In December it bought Shazam, the London-based app that allows smartphone users to identify music, for a reported $400m. "The Texture team and its current owners, Condé Nast, Hearst, Meredith, Rogers Media and KKR, could not be more pleased or excited with this development". READ NEXT:Google publishes new research into how neural networks "think" Apple's thought to be purchasing the app in an attempt to appease publishers and news organisations.
In aninterview at the South by Southwest conference following the news, Cue said that Apple would be integrating Texture into Apple News, and that the company is committed to curating the news to remove fake news.
Previously, Apple had a Newsstand app of its own, but the service never took off, and Apple made a decision to just terminate the service.
Also in 2015, Texture had an annual revenue "in excess of US$20 million", Loughlin said. The company added that it is "committed to quality journalism", which suggests it will use Texture in an attempt to improve its standing with media organisations. Moments after Apple announced the deal, Eddy Cue, Apple's senior vice president for internet software and services, said Apple News was introduced with the goal of bringing great content in a attractive layout from trusted sources, and Apple plans to integrate Texture content into Apple News, according to Apple news website 9to5mac.
Since its launch in 2010, Texture has become the leading multi-title subscription service giving users the ability to instantly access some of the most widely read magazines while on the go. Apple hasn't commented on its plans for Texture. The Texture app is available for iPad, and iPhone, Android devices, and Amazon Fire tablets. The service will continue to operate as an independent app for the foreseeable future. Once the acquisition completes, Apple will purchase the service and its employees.