Apple has recently acquired WaveOne, an AI-powered video compression startup, in an undisclosed deal. WaveOne, a California-based company, has been working on algorithms to compress videos mainly using machine learning. The start-up boasts that its technology can reduce the size of video files by up to half while retaining quality. As confirmed by Bob Stankosh, WaveOne’s former head of Sales and Business Development, the deal was finalized in February 2021.
WaveOne has been in development since 2016 and its core objective is to provide content-aware video compression and decompression. In other words, the algorithms of the technology preferentially encode facial features, text and essential content, instead of grass or other similar features in backgrounds. This compression technique does not depend on the hardware used, making it accessible to all.
Apple, the tech giant, has yet to confirm the purchase, but its acquisition of WaveOne clearly points to the company’s rise in video-oriented services, where the help of AI technology could be beneficial. While the details of the deal are still unknown, the combination of Apple’s immense resources and WaveOne’s innovative start-up approach could only mean good news for users.
The deal marks the latest success of Bob Stankosh, who is noted for his enthusiasm and commitment to innovation. With a wealth of experience in Sales and Business Development, Bob was instrumental in making sure WaveOne achieved its goals and making the deal with Apple a reality.
In conclusion, Apple’s purchase of WaveOne could revolutionize the way the industry compresses complex videos. As the details of the transaction remain covered, users can only wait to find out what Apple has in store with this acquisition and how it will benefit them in the future. However, it clearly shows that Apple is ready to make moves and take advantage of the revolution of AI-based video technology.
