In a bid to boost its Video Streaming strategy, Social Networking giant Facebook has acquired a startup this week. Fayteq is a German-based video modification and motion tracking technology startup with a strong focus on offline and real-time video manipulation.
According to TechCrunch, the Palo Alto-based company has just acquired the German startup for an undisclosed amount. The deal, which was first reported by a German-based online publication, will provide a big help for the company’s live streaming efforts and for the other platforms like the much-talked Instagram Stories.
The social networking giant has already confirmed the acquisition but hasn’t provided many details about their plans for the newly acquired company.
Fayteq, what we need to know
Founded in August 2011, Fayteq is a German-based startup that develops software add-ons for video editing software that can remove and add the whole object from captured video using a sophisticated computer vision technology.
The startup has been working on a plugin for editing software like the Adobe After Effects that allowed video editors to track objects in capture videos. Some analysts believe that the startup’s expertise and deep experience could help Facebook enhance its video streaming and advertising services. It can also help the internet giant on its products plans, including its ongoing AR effort.
Fayteq provides innovative technologies on real-time video manipulation. It also provides sophisticated solutions for digital product placement, including seamless object insertion from video streams. Fayteq has an advanced motion tracker called FayN, which offered a simpler and easier-to-use motion tracker.
Facebook is no longer stranger to the European tech world.
The internet giant has already acquired several European-based companies. These include the Ireland-based InfiniLED, England’s Two Big Earns, Findland’s ProtoGeo and MSQRD from Belarus.
Other Facebook-related news
The internet giant made a huge headline recently when it announced plans to shut down its experimental teens-only app Lifestage.
The app was designed primarily to counter Snapchat’s threat.
The company has just found out that there’s no longer need a direct counteract to Snapchat. Facebook has Instagram, which is far larger than Snapchat in terms of users.
In addition to Lifestage, Facebook has also shut down its Groups app, which first introduced in 2014 to help users better search and connect with various Facebook Groups. This is the first time the internet giant has removed underperforming apps. A few years ago, it shut down its internal incubator Creative Labs, along with anonymous chat app Rooms, collaborative video app Riff and photo-sharing app Slingshot.
