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Twitter pays $150M for Magic Pony Technology, which uses neural networks to improve images

TechCrunch TechCrunch 20/06/2016 Ingrid Lunden

Twitter today is taking another step to build up its machine learning muscle, and also potentially to improve how it delivers photos and videos across its apps: the company is acquiringMagic Pony Technology (that is really the name), a company based out of London that has developed techniques of using neural networks (systems that essentially are designed to think like human brains) and machine learning to provide expanded data for images — used, for example, to enhance a picture or video taken on a mobile phone; or to help develop graphics for virtual reality or augmented reality applications.

Twitter is paying $150 million in all for the deal, including retention bonuses for the staff.

TechCrunch heard of the deal through a source; apparently the news will be made public today.

This is the second machine learning startup Twitter has acquired in the UK, after Whetlab last year.

Magic Pony Technology had raised money from investors like Entrepreneur First and Balderton.

More to come.

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