Wednesday, February 24, 2016

Apple Acquires A Nigerian-Owned ICT Firm For $1B


Apple which is a top brand and one of The United States of America’s most celebrated blue chip coy has bought over, an online company built by Nigeria’s Chinedu Echeruo at the cost of $1B.

Founded in 2005, makes mobile applications for both iOS and Android that covers over 300 cities and that helps people get directions or find nearby subway stations and bus stops.

Echeruo, formerly an analyst at investment banks and hedge funds, who founded HopStop, is now chairman of the Board for the app firm.

The move, according to market intelligence, is seen as Apple’s plan to bolster its map offering especially given Google’s recent acquisition of Waze.

Chinedu Echeruo is a Nigerian from the Igbo extraction and has always been a serial entrepreneur.

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