Apple buys Kiwi tech company PowerbyProxi

PowerbyProxi co-founders Greg Cross (left) and Fady Mishriki. Photo / Supplied

Apple has bought Kiwi tech company PowerbyProxi, which develops wireless charging technology.

The company was set up by then Auckland University student Fady Mishriki a decade ago. Mishriki studied wireless power systems through his Bachelor of Engineering, which became a catalyst for the firm's creation.

Apple announced the acquisition, for an undisclosed amount, and senior vice president of hardware engineering Dan Riccio told Fairfax Media that PowerbyProxi was a great addition to the team.

Mishriki and co-founder Greg Cross joined forces in 2007 to create the company, whose technology has been licensed for use around the world.

In 2013 Samsung invested $4 million in the company, and owns just under 10 per cent of PowerbyProxi shares. NZ tech investor Movac also invested in the company.

PowerbyProxi uses magnetic induction for its wireless power technology and its rechargeable battery system includes the world's smallest wireless power receivers, which are integrated directly into a device using the existing shape of AA batteries.

Last month Apple announced its plans for wireless charging technology at the iPhone 8 and iPhone X launch event in California.

Apple is expected to release AirPower, a wireless charging mat for its products, next year.

Mishriki last year told the Herald the company was born to be global.

"The company has always had an international focus. Our first customers were international companies and all of our customers are international," he said.

Mishriki holds a 17.5 per cent stake in the company, according to the Companies Office.