Facebook Buys Swedish Mapping App

Facebook (NASDAQ: FB) has inked a deal to acquire Mapillary, a Swedish company building a global street-level imagery platform. 

In a blog post, Mapillary CEO Jan Erik Solem announced the deal, saying the company would help advance Facebook's efforts to improve maps via machine learning and satellite imagery, and through partnerships. Terms of the deal were not disclosed, but according to CrunchBase, the mapping start-up has raised $24.5 million since its inception in Sept. 2013. 

Image source: Getty Images.

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Source Fool.com