Fayteq is well known for developing technologies that make it possible to add objects to video. The startup also has the opposite ability, to remove objects from the video.
This news was first published by the German media, which reported the acquisition related to the startup. A Facebook spokesman confirmed the agreement to Variety.
Unfortunately, the Facebook representative refused to comment further. Similarly, the amount of dowry is not revealed.
Fayteq has sold plugins for video editors like Adobe After Effects, which lets video editors track objects in videos, then add or remove assets with the help of tracking data. For example the plugin is used to add a logo or that spacecraft to the video.
Facebook is likely to use Fayteq's technology to add live video effects to Facebook Live. Tracking objects in a live video is also something the company has done as part of its performance improvement efforts.
That is why Facebook is interested in patents Fayteq and also other intellectual property from the German startup.
It is unclear what agreement the two companies agree on. However, Fayteq told its customers that its products and services are no longer available for purchase.
This step seemed to show the seriousness of Facebook to work on video. As known, the company led by Mark Zuckerberg has released its original video platform, Watch, to compete with Netflix, Hulu, even YouTube.
The Watch app will be available in both desktop, laptop, mobile and smart TV versions. Facebook will create different types of impressions, such as reality shows, comedy, and live sports.
The types of impressions in this Facebook video platform focus on four things: live impressions that connect the brand with fans, impressions that attract fans and communities, impressions that have a consistent theme, and live shows that can gather communities.
However, you should be patient to try out Facebook Watch, because the new platform is sliding in limited circles in the United States.