THE WHAT? Snap Inc has acquired 3D-scanning studio Th3rd in the second quarter of 2022, according to a report by Tech Crunch.
THE DETAILS Four members of Th3rd joined Snap as part of the purchase, with financial details of the deal not disclosed.
Th3rd’s offering has since been integrated into the company, with the capabilities said to be used to enhance Snap’s AR projects.
THE WHY? The buy-out took place when Snap was looking to bolster its AR-powered sales goals, with the company having recently announced that it will start offering its AR tools to enterprise customers.
According to Snap, brands can integrate the AR features directly into their apps or websites.