Snap acquired Ukrainian company AI Factory to boost Snapchat’s video recording capabilities, TechCrunch reported.
The news outlet noted the company provided no details about terms of the deal, but reported the price agreed at $166 million. Snap worked with AI Factory to create newly-launched Snapchat feature Cameos, a set-up enabling users to edit their faces into videos.
AI Factory was founded by Victor Shaburov, who was Snap’s director of engineering until 2018, a role he assumed when Snap acquired his facial recognition start-up Looksery in 2015.
Snap recently partnered with Verizon to develop AR and content experiences for Snapchat in the US operator’s 5G Lab. Verizon said it was exploring ways for consumers to experience live events by taking advantage of 5G benefits.
In September 2019, Snap unveiled a 3D camera mode for Snapchat for certain smartphones, which captures and then displays photos in 3D.