The acquisition was first reported by MacRumors, and later confirmed by Apple to various press outlets. Apple shares closed 2.78% higher on Friday to $226.95 as reports surfaced of stronger-than-expected demand for its recently released iPhone 11.
IKinema focuses on motion capture software that can turn video footage into animations. Its technology is oriented towards games and augmented reality experiences. According to IKinema company filings, the startup had 13 employees as of 2018.
Terms of the deal aren't known. On a few occasions, Apple has purchased smaller companies in the realm of motion graphics or augmented reality and incorporated the technology into its phones or other products. One such example was Apple's 2015 acquisition of FaceShift, whose technology was eventually applied to Apple's Animoji characters that convert human faces into animal avatars.
Apple has made various inroads into augmented reality technology, and in 2017 released an ARKit helping developers to build AR apps for iOS11 and later.
Apple shares are up 39.8% year to date.
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