Apple is reportedly on the verge of agreeing a deal to acquire social network company Path as it looks to bolster its capability in the sector.
A source told Pando Daily, a publication covering the Silicon Valley start-up scene, that the agreement was “essentially a done deal”.
The main Path app offers users the ability to share moments in time with their contacts, while the Talk messaging product was recently launched.
The social network is more known for its design and user interface innovations than for driving uptake, with around 25 million users at the beginning of the year.
Ping, Apple’s main foray into social networking previously, failed to take off.
The source said Path would continue to exist after the acquisition to be incorporated into Apple’s Messages app.
However, the deal won’t be priced anything like as high as the $19 billion Facebook is paying to acquire WhatsApp.
When Path secured a round of funding in January, it was reportedly valued at less than $400 million, significantly below the hoped-for $500 million.