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Facebook Acquires Video Compression Startup QuickFire

By Reuters | Updated: 9 January 2015 09:13 IST
Facebook Acquires Video Compression Startup QuickFire
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Social network operator Facebook Inc said it bought QuickFire Networks, a startup that helps view high-quality video with low bandwidth.

QuickFire announced the acquisition on its blog on Thursday.

Facebook and QuickFire did not disclose the terms of the deal.

Facebook's acquisition of the video technology company comes a day after it said in a blog it averaged more than 1 billion video views every day since June 2014.

© Thomson Reuters 2015

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