WHAT DOES FACEBOOK’S QUIET AI ACQUISITIONS ACROSS UK SIGNIFY?
The social media giant Facebook has always been at the forefront of AI advancement. Amid all the controversies and roadblocks in its strive to attain AI leadership, the company is moving forward with innovation and tech developments. These developments are a major result of its acquisitions; small but significant. Facebook’s M&A activities are proving to be quite beneficial in its AI journey. Recently, the company acquired Scape Technologies which is a London-based computer vision startup working on location accuracy beyond the capabilities of GPS.
Full terms of the deal remain as yet unknown, although a Companies House update reveals that Facebook Inc. now has majority control of the company (more than 75%). Further, a regulatory filings show that Scape’s previous venture capital representatives have resigned from the Scape board and are replaced by two Facebook executives.
