The software giant Microsoft has acquired Mobile Data Labs, a startup that develops mileage-tracking app MileIQ. Financial terms of the deal has not been disclosed. Further to the acquisition, MileIQ will continue to function on iOS and Android but the team would be soon joining Microsoft’s team.
Founded in 2011 by Dan Bomze and Chuck Dietrich, the startup Mobile Data Labs is the parent company of MileIQ which is one of the popular Android and iOS mileage-tracking apps for receiving deductions and reimbursements. The app has more than 1 million users and it is one of the top finance app in Apple’s App Store for the past 20 months. It uses the sensors of the phone to automatically calculate mileage, feature well-known among the business travelers. The app helps the users save nearly $547 in the business miles.
The acquisition is most likely to be part of the MileIQ’s aggressive move to increase its presence on rival platforms. Also, the app will soon be available at the Windows Store. Microsoft is working on to dominate the productivity space in mobile software and so these acquisitions, says sources.
Microsoft Office 365 and Outlook corporate vice president Rajesh Jha said in the blog, ” The team will continue to build and offer mobile productivity solutions and look to take advantage of insights from Office 365 and the Office Graph.”
Dietrich, co-founder of Mobile Data Labs said, “The entire Mobile Data Labs team is thoroughly committed to making sure MileIQ and our future products continue to provide great value to the people who use them, and we could not be more excited to get to work on this next chapter.”