Facebook buys Scape Technologies, start-up that uses AI vision to find location
Founded in 2017, Scape Technologies was developing a “Visual Positioning Service” based on computer vision which lets developers build apps that require location accuracy far beyond the capabilities of GPS alone.
Facebook has acquired Scape Technologies -- a London-based computer vision start-up working on location accuracy beyond the capabilities of GPS.
Full terms of the deal remain as yet unknown, although a Companies House update reveals that Facebook Inc now has majority control of the company (more than 75 per cent).
"However by looking at other filings, including a recent share issue, I understand the price could be about $40 million," TechCrunch reported on Saturday.
The start-up's cloud-based "Visual Positioning Service" translates images into 3D maps that deliver a precise outdoor location across entire cities.
ALSO READ: Facebook acquires video gaming company PlayGiga in bid to tap cloud gaming
It is pertinent to note that it's not yet clear what Facebook intends to do with Scape. But, the augmented reality (AR) glasses may be the best fit.
Founded in 2017, Scape Technologies was developing a "Visual Positioning Service" based on computer vision which lets developers build apps that require location accuracy far beyond the capabilities of GPS alone.
Follow HT Tech for the latest tech news and reviews , also keep up with us on Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.