Snap Inc – the owner of Snapchat – has quietly acquired Israeli augmented reality (AR) start-up Cimagine Media for a reported $30 to $40 million, according to a media report.
Cimagine Media makes software that allows businesses or consumers to visualize what an item might look like in their environment. For example, the start-up works with Shop Direct to allow customers to see what furniture would look like in their home via a tablet.
This so-called augmented reality use is of interest to Snap Inc, considering Snapchat uses this technology in their lenses to let users turn their faces into animals for example.
Israeli publication Calcalist originally reported the news this week and said Snap Inc will use the deal to create a development center in Israel.