Snapchat buying Israeli augmented reality start-up Cimagine report

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Messaging app Snapchat is shopping for Israeli increased reality startup Cimagine Media for associate calculable $30-$40 million, marking Snapchat’s initial acquisition in Israel, the Calcalist monetary daily reportable on Sunday.Cimagine developed True Marketless increased Reality – technology that enables users to nearly place piece of furniture and appliances they want to get within the area of their home, on their mobile devices, at the clicking of a button.

Cimagine can become Snapchat’s analysis and development center in Israel and is anticipated to chop-chop expand its men from its current twenty staff, Calcalist same.The company’s highly-skilled team is maybe the most reason for the acquisition, instead of its technology, Calcalist same.

Officials at Cimagine declined to treat the report.The company was supported in 2012 and has raised some million bucks.Venice, California-based Snapchat is anticipated to travel public as early as March with a valuation of the maximum amount as $25 billion.

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