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Snap Shells Out $40M For AR-Startup Cimagine Media

Snapchat parent Snap has reportedly shelled out as much as $40 million for Israeli startup Cimagine Media. “This acquisition will provide Snap with a development center in the Middle East, one that will eventually house more than the 20 people,” Venture Beat reports. “Founded four years ago, Cimagine specializes in computer vision, real-time image processing, mobile development, international marketing, and more.”

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