Apple buys New Zealand wireless charging company PowerbyProxi

Apple AirPower matApple has decided to invest in wireless charging, after making the iPhone 8 and iPhone X its first devices to feature the technology, with the acquisition of a New Zealand-based wireless power company.

PowerbyProxi, which was spun-out of the University of Auckland 10 years ago, designs and develops wireless power products for both consumers – through licensing partnerships – and direct sales to industries.

The deal, which was first reported by Stuff New Zealand, has since been confirmed by Apple. It is believed that deal is at least in the 10s of millions and may even exceed $100m, though this hasn’t been confirmed by either party.

 “We want to bring truly effortless charging to more places and more customers around the world,” said Dan Riccio, SVP of hardware engineering at Apple, in a statement. “Our Auckland team will be a great addition as Apple works to create a wireless future.”

Fady Mishriki, founder and CEO of PowerbyProxi, added: “The team and I are thrilled to join Apple. There is tremendous alignment with our values, and we are excited to continue our growth in Auckland and contribute to the great innovation in wireless charging coming out of New Zealand.”

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