Apple has quietly acquired WaveOne, a California-based startup that develops AI algorithms for video compression.
Although Apple didn’t announce the acquisition, Bob Stankosh, WaveOne’s former head of sales and business development, posted on LinkedIn about the startup’s sale to the iPhone maker.
Stankosh posted, “After nearly two years at WaveOne, last week we finalized the sale of the company to Apple.”
“We began our journey at WaveOne realizing that Machine Learning/Deep Learning video technology could potentially change the world. Apple saw this potential and took the opportunity to add it to its technology portfolio,” he said.
He thanked the co-founders, Lubomir Bordeev and Oren Rippel, as well as Craig Little, for helping bring the idea to market and furthering the concept for commercial applications.
TechCrunch was the first to report about the Apple acquisition for an undisclosed amount.
Leveraging the startup’s AI-powered technology it can “sense” a video frame, thereby prioritizing faces.
The AI-powered video codec could help Apple deliver more efficient streaming on its services like Apple TV+.
WaveOne leverages the latest advances in machine learning and deep learning to offer unique and disruptive solutions and services across digital media, social and enterprise platforms.
The startup is behind cloud-based AI Native Video solutions that use Machine Learning and Deep Neural Network (DNN) technology.
- IANS
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