“In a lawsuit filed today by a former founding employee of Color Labs, one moment of clarity emerged amidst some seriously salacious allegations: Color's approximately 20 person technology team and some of its key intellectual property assets were indeed acquired by Apple last month,” Colleen Taylor reports for TechCrunch.
“This deal was buzzed about a lot in the press, but to date neither company has provided on the record confirmation - this was a central point in the suit, since former Color employee Adam Witherspoon claims he was intentionally left out from the move to Apple,” Taylor reports.
Taylor reports, “TechCrunch has confirmed with sources involved that the Apple deal did indeed go through, and the price paid in all was $7 million.”
Read more in the full article here.
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