Apple, currently the world’s most valuable company, is extremely cash rich when it comes to their bank balance. Instead of letting their employees get a total workout by swimming in a pool of Benjamins, they decided to make better use of it – by picking up search startup Chomp Inc. that is based in San Franciso, forking out a cool $50 million thereabouts for Chomp. Chump change when you think about it from Apple’s perspective, really. Apple did not disclose the exact purchase price despite confirming the deal. According to Amy Bessette, a spokeswoman for Apple, “We buy smaller technology companies from time to time and generally don’t comment on our purposes or plans.”

Just what does Chomp’s software do to add value to Apple’s arsenal? For starters, it will enable folks to search through the numerous downloadable applications that are available for Apple’s iPad and iPhone, in addition to Android-powered devices. For instance, entering queries like “tip calculator” or “zombie games” will see the relevant search results served. I guess it makes sense, considering how some developers have criticized Apple’s App Store as being difficult to navigate.

Filed in Apple . Tags: Apple Inc.
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