In a bid to expand its video services, Facebook on Wednesday acquired Masquerade Technologies Inc, creator of the popular face-swapping app MSQRD.
The deal comes nearly three years after the Wall Street Journal reported that photo and video messaging app Snapchat had rejected an offer from Facebook.
Specific terms of the deal weren’t disclosed, though Eugene Nevgen, the CEO of Masquerade, says it will continue to run as a standalone app and new features will be added to the app in the future.
Masquerade, lets users add live face effects to videos or swap your face with another face or by adding face effects.
“Video communication is exploding. At Masquerade, we’ve worked hard to make video more fun and engaging by creating filters that enhance and alter your appearance,” Nevgen said in a blog post while announcing the deal.
“Now, we’re excited to join forces with Facebook and bring the technology to even more people. Within Facebook, we’re going to be able to reach people at a scale like never before. For starters, we’ll be able to bring our technology to Facebook’s audience of nearly 1.6 billion people.”
In addition, Facebook CEO Mark Zuckerberg announced the update by posting a video with an animated Iron Man mask.
He said: “No, I haven’t also built an Iron Man suit. I’m using this app Masquerade that lets you put real time filters on your videos. And today I’m excited to share that the team behind Masquerade is joining Facebook.”
The purchase gives Facebook a better edge to compete with Snapchat, a popular photo sharing app that has had filters for sometime.