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Alibaba, the Chinese e-commerce giant, acquired Friday an Israeli augmented reality company, Infinity Augmented Reality Israel Ltd. (InfinityAR), according to an announcement made Sunday by the two companies.
InfinityAR, founded in 2013 in Ramat Gan, develops augmented reality software – a type of technology that superimposes information such as images or sounds on the user's environment. Mobile games are one of the most popular uses of AR, including the hugely popular "Pokémon Go" that had more than 100 million users at one point and was worth more than $ 2 billion.
The financial details of the transaction remain secret, but according to one Globes reportAccording to market estimates, Alibaba would have paid more than $ 10 million.
Infinity raised $ 18 million in 2016 from Alibaba and Sun Corporation Ltd., a Japanese entertainment and computer company, according to Calcalist. The company raised $ 25 million on Friday, said Motti Kushnir, CEO and co-founder of Infinity. Calcalist in an interview.
"Alibaba is very interested in our product because it is an open platform and is convinced that it will be a milestone in the world of shopping and games in the near future," said Kushnir. globes.
"Some experts claim that the cellular sector as a whole will experience a revolution and that some of them will even become superfluous with the entry into the augmented reality revolution."
Alibaba acquired an Israeli company in the past – the start-up QR code Visualead Ltd in November 2017 – and has invested in a handful of Israeli start-ups, including the startup in computer vision Nexar Ltd., the start-up Data badysis SQream Technologies, another augmented reality company, Lumus, and Twiggle, a research start-up in e-commerce.
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