Facebook has announced yet another acquisition that enhances its suite of new-age offerings. Facebook took over Scape technologies, which work on location-based technology, adding more efficiency to current GPS features.
Facebook Buys London Based Scape Technologies
Scape Technologies was founded in 2017 and work on the development of Visual Positioning Service. It is developed on the computer vision technique which gives developers additional capabilities than the existing GPS features.
Company Initiative to Enhance GPS Technology
The company was initially made to work on Augmented Reality; however, the work of Scape’s technology can impact a lot of things like robotics, logistics, and mobility, etc. Scape’s long-term objective is to aid machines that make use of the camera to analyze and work with surroundings.
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Edward Miller, CEO, Scape talks about the company vision
Edward Miller, the CEO, and Co-founder of Scape has said that the company’s goal is to create a Mapping Pipeline that takes real images and videos and then transforms them into 3D imaging. The cameras can use the technology and give accurate mapping services that are more precise than current GPS technology.
Scape Acquisition is Facebook’s Strategic Move to Lead Next-Gen Technologies
Scape acquisition of Facebook is part of the strategy which entails Social Media giants aim to pioneer in future technologies like Virtual Reality and Artificial Intelligence. The purchase is looked upon as a trend that is worrisome to the analysts wherein the US tech firms are taking over UK companies. UK’s much talked about the Brexit, where the country exits the European Union, and the competition and market authorities may look over the issue.
Acquisition for 40 Million US Dollars
The regulatory filings of the purchase reveal that Facebook can now control more than three fourth of the company. The details of the deal are not yet available; however, as per reports, the deal is worth 40 Million dollars.
Scape Building 3D Mapping of World
Scape is trying to develop a technology that helps to create a 1:1 digital representation of the physical world locations. The 3D mapping will help the company to build the next-generation infrastructure, which can be compatible with the various spatial computing devices. The technology works on the multiple tech wearables, tools that work on location-based data, and automatic vehicles. It wants to ace the location precision and come up with high-end technology, which is more potent than the current GPS capabilities.