Natural language processing technology developer Bloomsbury AI has joined Facebook for up to $30m, enabling UCL Technology Fund to exit.

Bloomsbury AI, a UK-based natural language processing (NLP) technology spinout from University College of London (UCL), has joined social media network operator Facebook for an undisclosed sum, TechCrunch reported yesterday.

The deal is expected to be priced between $23m and $30m and could involve a combination of cash and stock, according to sources cited by TechCrunch. It represents an exit for the UCL Technology Fund.

Founded in 2015, Bloomsbury has developed a software-based virtual assistant called Cape that uses machine…