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Apple Puchased iCloud Name

Company rumored to be launching iTunes-related site
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An anonymous tipster told GigaOm's Om Malik that Apple has paid Swedish company Xcerion $4.5 million for its iCloud storage service and the domain name iCloud.com. This news has led to rumors that Apple is planning to use the name iCloud for a cloud-based music service.

Xcerion recently rebranded its iCloud service as CloudMe after acquiring the CloudMe.com domain. TechCrunch asked the company if the name change had anything to do with Apple, but Xcerion's rep said that it chose the new name to "better reflect our new focus on files and storage," and avoided any mention of Apple.

On April 29, one day after the GigaOm post appeared, All Things Digital confirmed the purchase.