L’Oreal has acquired Toronto-based ModiFace, according to a report from Reuters. Terms of the deal weren’t disclosed.
ModiFace develops AR applications for the beauty and medical industries. In the past, it’s partnered with Japan’s largest insurance company, Dai-Ichi Life, on a health promotion app. It’s worked with brands like Sephora to launch AR apps, and stepped into the chatbot space with the launch of a Facebook Messenger bot providing makeup suggestions.
ModiFace has also supported the development of AR and AI talent in its home city; last year, it committed $4 million towards establishing an undergrad internship program at its company and establishing a Modiface Research Internship.
The company employs nearly 70 engineers, researchers, and scientists who have submitted over 200 scientific publications and registered over thirty patents, according to a statement sent to Reuters.
“With ModiFace we’ve acquired … the stock of inventions they’ve already created, but more than that, the ability to look at reinventing the beauty experience in the years to come,” said L’Oreal’s chief digital officer Lubomira Rochet.
Earlier this year, L’Oreal rolled out a “Style My Hair” application it developed with ModiFace, which allows people to see how they would look with different colored dyes.
L’Oreal is looking to expand its offerings as its online sales increase.
Source: L’Oreal
This article was originally published on BetaKit
