“Aleinikov & Partners” law firm finalized the M&A transaction on acquiring by American giant Google of Belarus' Hi-Tech park resident AIMatter company, which has built a neural network-based AI platform and SDK to quickly detect and process images on mobile devices, and a photo and video editing app that has served as a proof-of-concept of the tech called Fabby.
According to experts, the deal can be called historic for the Belarusian IT industry. “This is the first time when a Google-level IT company buys a company from Belarus, rather than an intellectual property or an affiliated company in another jurisdiction,” Yuri Melnichek, AIMatter's co-founder and chairman, noted.
Another co-founder of the company is Yuri Gursky, whose Haxus fund invested about $ 2 million in AIMatter. Haxus also invested in MSQRD, which was acquired by Facebook last year, and Prisma, the popular app that can turn any photo or video into a “painting” using filters in the style of different artists or artistic movements.