Haaretz – Snapchat to Buy Israeli Augmented Reality Startup Cimagine for Estimated $40 Million
26 December 2016
In its first foray into Israel, the company behind the wildly popular Snapchat app has agreed to buy the Israeli augmented reality company Cimagine Media for what sources estimated was $40 million.
Cimagine’s technology is used to scan and identify surfaces in scenes captured on a mobile or wearable device camera and overlays life-like 3D images onto real-time video. Unlike similar offerings, Cimagine’s markerless augmented reality doesn’t require the user to print and place a reference marker to identify surfaces and estimate scale.