25Dec/16Off
Snapchat buying Israeli augmented reality start-up Cimagine
A portrait of the Snapchat logo in Ventura, California December 21, 2013. REUTERS/Eric Thayer/File Photo
Cimagine developed True Marketless Augmented Reality – technology that allows users to virtually place furniture and appliances they wish to purchase in the space of their home, on their mobile devices, at the click of a button.
Cimagine will become Snapchat's research and development center in Israel and is expected to rapidly expand its workforce from its current 20 employees, Calcalist said.
The company's highly-skilled team is probably the main reason for the acquisition, rather than its technology, Calcalist said.
See the full story here: http://www.reuters.com/article/us-tech-imagine-snapchat-idUSKBN14E06X