Facial animation technology firm Image Metrics has sold off its Faceware animation tool to newly formed spin-off company Faceware Technologies.
The firm said the purpose of the transaction was to allow each company to focus on delivering separate products and services to different markets.
Image Metrics will continue to focus on delivering products based on its consumer animation and facial recognition tech, whilst FTI will offer Faceware to other animation companies.
Image Metrics COO Ron Ryder will lead the new spin-off company during its transitional period.
“This transaction is a great opportunity for both Image Metrics and Faceware Technologies because each company can focus on delivering exceptional products and services to its target customers and enable both companies to unlock faster growth potential in each market,” Image Metrics CEO Robert Gehorsam.
“Image Metrics will now aggressively build out a set of remarkable products and technologies that will continue to transform how online users express themselves, communicate and interact.”
Facial animation tool Faceware has been used in a number of games such as Grand Theft Auto IV and Red Dead Redemption.