Cyanogen declined Google's acquisition Bid, Seeks $1 Billion valuation

You may probably use the Cyanogenmod made by Cyanogen Inc. on your Android Smartphone. According to a report in The Information, Cyanogen Inc. rejected acquisition interest from Google. Google's Android chief, Sundar Pichai reportedly discussed the search giant's interest in the small company in a recent meeting with its top brass.

Instead of becoming part of Google, Cyanogen is in late-stage discussions for Series C round of financing. The company is seeking a valuation that is close to $1 Billion, despite the fact that it is barely generating revenue.

Potential Cyanogen investors have reportedly been told that the company has struck a deal with the Indian manufacturer Micromax. The latter's smartphones will be outfitted with custom Android ROMs, a la OnePlus One as part of the agreement.

VIA