Jon Reynolds and Ben Medlock, who founded the company in 2008 when both were in their 20s, will each make upwards of $30m from the buyout, which is set to be announced this week. The pair together own a substantial minority stake in the company after raising a relatively small amount of venture capital, just over $20m, from backers including Accel Partners, Index Ventures and Octopus Investments.
While the deal is one of the biggest in recent memory for a U.K. tech company, it's less than investors might have hoped for a few years back when SwiftKey was at its height of popularity. The company struggled to find a good business model. Initially the keyboard sold for $4 but then was switched to free with in-app purchases. SwiftKey also earned revenue when it was pre-installed by on Android and BlackBerry devices.
Hit the link below for more details or click here to download SwiftKey for your iPhone.