Snapchat to buy Israeli augmented reality firm Cimagine
- 7 years ago
Snapchat is buying Israeli augmented reality startup Cimagine for an estimated $30-$40 million, marking Snapchat's acquisition in Israel. Cimagine developed a technology that allows users to virtually place furniture and appliances in their homes. The virtual reality company will become Snapchat's research and development center in Israel. Cimagine's workforce, which is currently around 20 people, is expected to rapidly increase, according to Calcalist. According to Calcalist, the acquisition comes as a result of Cimagine's highly-skilled team.