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Cimagine developed True Marketless Augmented Reality –
technology that allows users to virtually place furniture and
appliances they wish to purchase in the space of their home, on
their mobile devices, at the click of a button.
Cimagine will become Snapchat's research and development center
in Israel and is expected to rapidly expand its workforce from
its current 20 employees, Calcalist said.
The company's highly-skilled team is probably the main reason
for the acquisition, rather than its technology, Calcalist said.
Officials at Cimagine declined to comment on the report.
The company was founded in 2012 and has raised a few million
dollars.
Venice, California-based Snapchat is expected to go public as
early as March with a valuation of as much as $25 billion.
(Reporting by Tova Cohen)
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