Fayteq, a real-time video editing technology developer spun out of TU Ilmenau, has been acquired by Facebook for an undisclosed sum.
Fayteq, a Germany-based real-time video editing software producer based on research at Technical University Ilmenau, has been acquired by internet company Facebook, Deutsche Startups reported on Friday.
Terms of the acquisition have not been disclosed. Fayteq said in a brief statement on its website that its products are no longer for sale.
Founded in 2011, Fayteq has created technology that enables video content to be manipulated in real-time, making it possible for example to remove objects or insert advertising.
While Facebook has not revealed what it intends to do with Fayteq’s technology, the company may use it to seamlessly insert personalised advertising on its recently launched video streaming platform Watch.
The company had secured an undisclosed amount of funding from investors including BMT, an investment subsidiary of state-owned economic development agency Thuringia Development Bank, and an angel investor consortium led by Cornelius Boersch.
