If you’re interested in online media investing or social media investing, you might find today’s news interesting. It has now been confirmed that social media behemoth Facebook (NASDAQ:$FB) has acquired Fayteq, which is a German computer vision startup. For those who don’t know, Fayteq is best known for creating technology that can add objects to existing videos, or remove objects from videos.
While German media was the first to report about the acquisition on Friday, a Facebook spokesperson confirmed the deal when Variety contacted them. However, the social media giant declined to comment further on the acquisition.
So, why would Facebook want to acquire such a company? Well, in order to answer this question, let’s dive into what Fayteq actually does.
In the past, Fayteq – which has roughly 11 to 50 employees – had been selling plugins for video editors, such as Adobe After Effects, which allowed these video editors to track objects in videos, and then they were able to add or remove assets with the help of the tracking data.
It is very likely Facebook decided to go forward with this acquisition because it will want to use this sort of technology to add live video effects to Facebook live. Additionally, object tracking in live video is something the California-based company has been working towards as part of its AR efforts, hence why it might be looking at Fayteq’s patents.
On Friday, Fayteq informed its customers that its products and services “are not available for purchase anymore.”
Featured Image: twitter
