Microsoft has bought itself yet another company that has developed apps for iOS and Android. San Francisco-based Mobile Data Labs, founded in 2013, is now a part of the Microsoft family. The company developed the popular MileIQ business mileage recording app.
"Mobile Data Lab's MileIQ app takes advantage of sensors in modern mobile devices to automatically and contextually capture, log and calculate business miles, allowing users to confidently claim tax deductions. In fact, the average MileIQ subscriber is able to deduct $547 per month in business miles, putting money back in their pockets. MileIQ counts over 1 million users and has been the top-grossing finance app in the iTunes store for 20 months straight."
Mobile Data Labs CEO Chuck Dietrich also wrote a blog about Microsoft's acquisition:
"By partnering with Microsoft, our horizon and momentum are now even bigger–and our ability to deliver excellent products, delightful experiences and personalized service is greater than ever. Under Satya Nadella's leadership, Microsoft has been on a path of tremendous innovation; the people in the company feel it, the products show it and the market has responded. Microsoft's ambition to reinvent personal productivity and business processes couldn't be more aligned with our goals. With our shared passion and commitment to mobile productivity, the San Francisco-based MileIQ team aims to advance this mutual vision by continuing to build services for self-directed workers–services like MileIQ that are automated, intuitive and give users back time, money and peace of mind."
The specific financial terms of Microsoft's acquisition of Mobile Data Labs was not disclosed.