Snapchat buys Israeli AR startup Cimagine Media

Snapchat reportedly has acquired an Israeli AR(Augmented Reality) startup, according to Calcalist News. The four-year-old Cimagine has a cloud-based AR platform that allows users to visualize and virtually place furnitures and appliances in their home, at the touch of a button.

The deal size is reportedly  between $30 million and $40 million.

Cimagine currently helps brands, retailers and manufacturers to sell more, faster - by enabling their users to visualize products in life-like 3D.

It currently works with brands like Jerome's in the USA and Shop Direct in the UK, and Coca Cola and help them in accelerating business using the power of AR.

Cimagine’s Ozi Egri, Amiram Avraham, Nir Daube and Yoni Nevo are specialists in the fields of computer vision and image processing and the acquisition might help Snapchat to use the tech to further enhance its business prospects.

It is not the only acquisition that Snapchat has made this year. In fact, it has made half a dozen smaller acquisitions this year including adtech company Flite, mobile search app Vurb, computer vision startup Seene and Bitstrips, a maker of personalized emojis.