Apple buys social analytics startup Topsy

Apple Inc CEO Tim Cook holds up the new iPad Air during an Apple event in San FranciscoApple Inc has acquired social media search and analytics startup Topsy, an unusual purchase for a hardware-focused company that has made few forays into social networking. Apple confirmed the acquisition but would not say why it bought the company, which specializes in analyzing Twitter data and providing insights into current sentiment on a variety of topics. The Wall Street Journal, which reported the news earlier, cited people familiar with the deal as saying Apple forked over more than $ 200 million. "Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans," spokeswoman Kristin Huguet said.

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