Marking Snapchat’s first acquisition in Israel, picture messaging app giant is buying Israeli augmented reality startup Cimagine Media for an estimated $30-$40 million.
Cimagine developed True Marketless Augmented Reality, a technology that allows users to virtually place furniture and appliances they wish to purchase in the space of their home, on their mobile devices, at the click of a button.
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Cimagine will become Snapchat’s research and development centre in Israel and is expected to rapidly expand its workforce from its current 20 employees, Calcalist said.