Microsoft has acquired Swiftkey, a London-based artificial intelligence (AI) start-up that makes a predictive keyboard for smartphones, the company announced on Tuesday.
The U.S. technology giant paid $250 million for Swiftkey, as the FT first reported. The figure was confirmed by a CNBC source.
Swiftkey raised an undisclosed amount of money last year and the buyout represents an exit for investors including Index Ventures and Octopus Ventures.
The acquisition is a continuation of Microsoft's buying spree as it looks to become the dominant player in productivity apps on mobile and desktop. In just over a year, Microsoft has bought email app Acompli, calendar app Sunrise and Wunderlist, an organizational app that lets you create to-do lists.
'Productivity', which refers to digital services to help people organize their lives such as calendars and notes, has been a big buzzword within Microsoft since Satya Nadella took over as chief executive as the company pushes its cloud-based software and services.