Facial animation tech provider Image Metrics revealed today that it has spun off its Faceware animation technology into a newly formed company, called Faceware Technologies.
Image Metrics' Faceware product line, which provides video analysis technology for facial animation, has been implemented in a variety of high-profile video games over the years, including Grand Theft Auto IV, Red Dead Redemption and NBA 2K12.
Image Metrics says that the sale of Faceware to the spin-off Faceware Technologies will allow both companies to focus on delivering separate facial recognition technologies to different markets. Faceware Technologies will focus solely on offering Faceware to professional animation companies.
Image Metrics CFO and COO Ron Ryder will head the new company during a transitional period, and the company will immediately generate revenue from existing Faceware client relationships.
Robert Gehorsam, CEO of Image Metrics, explained, "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 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."