Facebook acquires startup focused on video-editing

Facebook has confirmed the acquisition but did not share any additional information on its plans, Variety reported. The social network major can use the technology for object tracking in live videos as part of its AR efforts and also for applying digital effects to captured videos. 

Fayteq had been selling plugins for video editors like Adobe After Effects that allowed video-editors to track objects in videos and then add or remove objects with help of the tracking data. The company on Friday told its customers that its products and services are no longer available for purchase, the report added. Earlier this week, Facebook rolled out Watch — a video platform for creators and publishers — which will be available to a limited group of people in the US on mobile, desktop, laptop and TV apps.