Unity Acquires RestAR to Enable AI-Based 3D Capture
Unity (NYSE: U) has acquired RestAR, a Tel Aviv-based company specializing in computer vision and deep learning technologies for creating high-quality 3D models of consumer products. This acquisition follows the launch of Unity Forma, enhancing digital marketing capabilities for brands and retailers. RestAR's technology enables quick and accessible 3D modeling via mobile devices, aiming to democratize digital marketing for various businesses. The partnership is expected to revolutionize visual content creation across industries, particularly in retail, as it adapts to new consumer behaviors accelerated by the COVID-19 pandemic.
- Acquisition of RestAR enhances Unity's capabilities in creating 3D models, supporting digital marketing efforts.
- RestAR's technology allows quick, high-quality 3D modeling for brands, increasing market accessibility.
- Anticipated synergy between RestAR and Unity Forma could drive revenue growth in the digital marketing space.
- Potential challenges in integrating RestAR's technology with Unity's existing platforms.
Unity (NYSE: U), the world’s leading platform for creating and operating real-time 3D (RT3D) content, today announced the acquisition of RestAR, a Tel Aviv-based computer vision and deep learning company that enables fashion brands, online retailers, and marketers to scan and render physical consumer products in high-quality 3D, using only a mobile device. Coming on the heels of the launch of Unity Forma, a new tool that allows marketers to create and publish interactive experiences from 3D data, RestAR will extend the power of interactive RT3D technology to marketers of all types by generating a digital twin of any product or object in 3D.
“With the acquisition of RestAR, Unity is giving massive power to brands, retailers, and consumers by democratizing digital marketing for almost any product,” said Dave Rhodes, Senior Vice President and GM, Unity Create Solutions, Unity. “What was once out of reach for those outside of large manufacturers and consumer products companies, is now available to businesses of any size looking for a tangible, effective way to market their products. We fundamentally believe anyone should be able to leverage Unity’s products and this acquisition is another step in that direction.”
Creating realistic 3D models is a time-consuming, manual, and expensive process that few companies can afford. With RestAR, scans take a 1-minute video to complete, do not require technical knowledge or special hardware, and are processed and highly-compressed in the cloud using cutting-edge AI-based technology. RestAR allows online businesses and marketers to create high-quality 3D models of products easily. Today, RestAR works with leading fashion brands and e-commerce platforms such as UGG, Off-White, Wix, Dafiti, Hoka One One, Palm Angels, Heron Preston, and many more.
"The COVID-19 crisis accelerated the expansion of retail and other industries towards new consumer behavior and digital transformation. Alongside Unity, which has already established itself as a leader in rendering 3D content across multiple industries, RestAR, combined with Unity Forma will be a visual content game-changer for businesses and marketers across industries," said Bar Saraf, CEO, RestAR.
RestAR employees will join Unity from the company headquarters in Tel Aviv, Israel. Unity is the most comprehensive platform for RT3D development. From emerging creators to global brands, companies across all industries and geographies use Unity’s powerful, accessible tools to create compelling real-time 3D experiences. For more information, please visit www.unity.com.
About Unity
Unity (NYSE: U) is the world’s leading platform for creating and operating real-time 3D (RT3D) content. Creators, ranging from game developers to artists, architects, automotive designers, filmmakers, and others, use Unity to make their imaginations come to life. Unity’s platform provides a comprehensive set of software solutions to create, run and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company’s 1,800+ person research and development team keeps Unity at the forefront of development by working alongside partners to ensure optimized support for the latest releases and platforms. Apps developed by Unity creators have been downloaded more than five billion times per month in 2020. For more information, please visit www.unity.com.
About RestAR
RestAR aims to change the way people interact with online products by enabling retail businesses to use AI on any mobile device to convert simple videos of their products into 3D/AR visualizations and increase revenues. RestAR won 1st place at Global Startups Competition for Retail 2020 and Rethinking Commerce 2019 competitions, works with world-leading fashion brands and e-commerce platforms, and is funded by strategic investors such as Wix Capital, 500startups, the former President of Walmart Latin-America, the Co-Founders of Dafiti, and more. RestAR's technology combines both computer vision and deep learning algorithms based on cutting-edge academic research to promise the highest quality and accuracy. For more information, please visit www.rest-ar.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding the transaction’s ability to transform digital marketing, the acceleration and expansion of retail and other industries towards new consumer behaviors and digital transformation, Unity’s ability to be a visual content game-change for businesses and marketers across industries, the integration of RestAR and the impact of the transaction on Unity’s and RestAR’s products and services capabilities, customers and partners. The words “will,” “promise” “aims to” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks, uncertainties, and assumptions, such as Unity’s ability to successfully integrate RestAR’s business; costs related to the acquisition; whether potential benefits of the transaction extend to Unity and RestAR customers; whether the market for interactive experiences grows as anticipated; Unity’s and RestAR’s success developing new products or modifying existing products and the degree to which these gain market acceptance; and any unanticipated impact of accounting for the acquisition. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Further information on these and additional risks that could affect Unity’s results is included in our filings with the Securities and Exchange Commission (“SEC”), including our Form 10-Q filed with the SEC on November 13, 2020, and our future reports that we may file with the SEC from time to time, which could cause actual results to vary from expectations. Unity assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.
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