Apple Inc, the Cupertino-based tech giant best-known for its iPhones and iPads, has reportedly acquired SnappyLabs and its photography app SnappyCam.

Created by San Francisco-based Australian John Papandriopoulos, SnappyCam app allows iPhone 5 users to capture 8-megapixel quality shots at twenty pictures per second.

Available for $1, SnappyCam also allows users to modify the way the built-in camera captures photos and how rapidly the photos are taken. It is best known for a feature that lets a smartphone's camera to capturing taking photos in quick succession as long as the user keeps the on-screen shutter-button depressed.

The acquisition of the app was first reported by well-known tech blog TechCrunch and later by Re/Code. Apple has neither confirmed nor refuted the acquisition. The value of the deal is also unknown.

The Cupertino, California-based tech giant reportedly acquired nearly a dozen of companies during 2013, which indicates that the company is ramping up its innovation acquisitions strategy. Some of the notable acquisitions by the company include social media analytics firm TopsyLabs and travel information site Hopstop. com.