Apple Just Bought An Indoor GPS Company

The acquisition cost Apple about $20 million and proves that the iPhone maker is serious about improving its Maps offering, a space that Google currently dominates.

WifiSlam is just two years old, but during that time the start-up has focused on technology that can detect a smartphone user's location in a building using Wi-Fi signals, the Journal says.

Before Apple bought WifiSlam the company was offering its technology to app developers for indoor mapping and new types of retail and social networking apps.

Apple's fiercest competitor, Google, already offers indoor mapping in certain locations like airports, shopping centers, and sports venues. Users can virtually explore these places street-view style.

Here's the official statement Apple gave to the WSJ:

An Apple spokesman confirmed the deal saying the company 'buys smaller technology companies from time to time' and generally doesn’t discuss its plans. He declined to comment further. WifiSLAM could not immediately be reached for comment.