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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.

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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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