Apple quietly buys WaveOne an AI video compression startup
- ByStartupStory | March 28, 2023
Bob Stankosh, the former head of sales and business development at California-based WaveOne, has announced on LinkedIn that the AI video compression startup has been acquired by Apple. While the tech giant has not officially confirmed the acquisition, Stankosh confirmed the sale in his post, stating that “last week we finalized the sale of the company to Apple” after his two-year tenure at the startup.
The Apple acquisition of WaveOne, an AI video compression startup, was confirmed by former WaveOne executive Bob Stankosh on LinkedIn. Stankosh thanked the co-founders and others for helping to bring the idea to market. The terms of the deal were not disclosed, but TechCrunch was the first to report on it.
According to Bob Stankosh, former head of sales and business development at WaveOne, Apple has acquired the California-based AI video compression startup. Stankosh revealed the news on LinkedIn, stating that “Apple saw the potential” in WaveOne’s technology and “took the opportunity to add it to their technology portfolio.” By utilising WaveOne’s AI-powered technology, Apple could potentially identify and prioritise faces in a video frame for more efficient streaming on services such as Apple TV+. WaveOne developed Cloud-based AI Native video solutions, which make use of machine learning and deep neural network (DNN) technology to offer unique and disruptive services for digital media, social, and enterprise platforms. The startup’s AI-powered video codec could help Apple deliver more efficient streaming on its platforms.
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