Sunday, 21 June 2020

Mergers & Acquisitions: Facebook acquires Swedish mapping firm Mapillary for an undisclosed sum

In a major development, Facebook Inc acquired Mapillary, a Swedish mapping technology firm. The mapping firm collects images from tens of thousands of contributors to build immersive and up-to-date maps.

Mapillary crowd sources the images, ingesting pictures contributed from smart phones and other types of cameras, and uses computer vision technology to stitch them together into a three-dimensional map.

Many consider that information key for self-driving car technology, although a social media giant spokesman said it would also underpin Facebook products under development like augmented reality glasses and virtual reality headsets.

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Facebook acquires Swedish mapping firm - Elets CIO

🔊 Listen to this Article In a major development, Facebook Inc acquired Mapillary, a Swedish mapping technology firm. The mapping firm collects images from tens of thousands of contributors to build immersive and up-to-date maps. Mapillary Chief Executive Officer Jan Erik Solem said Mapillary's technology would be used to power products like Facebook Marketplace and supply data to humanitarian organizations.

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