TORONTO - French cosmetics conglomerate L'Oreal is buying ModiFace, a Canadian augmented reality and artificial intelligence firm which caters to the beauty industry.
L'Oreal says the Toronto-based firm will be part of its Digital Services Factory, a dedicated network to design and develop new digital services for the group's brands.
L'Oreal, whose 34 brands include Maybelline and Lancome as well as its namesake beauty products line, did not disclose financial terms of the acquisition.
ModiFace's technology allows customers to try on beauty products such as lipstick or eyeshadow or do skin diagnoses via mobile app, online or in-store augmented reality mirrors.
The firm was founded by University of Toronto engineering professor Parham Aarabi 11 years ago and employs nearly 70 engineers, researchers and scientists.
L'Oreal says ModiFace will remain based in Toronto, to stay close to the University of Toronto where it has established research partnerships.
Bagikan Berita Ini
0 Response to "Cosmetics giant L'Oreal buys Toronto augmented reality startup ModiFace"
Post a Comment