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Why does L'Oreal want to acquire ModiFace?

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L'Oreal has launched multiple gadgets, too, like a UV nail sensor at CES this year. read more

More recently, L'Oreal Professional and ModiFace introduced an app called Style My Hair, which provides augmented-reality hair color tryouts. Now ModiFace will become part of L'Oreal's newly formed Digital Services Factory, a network that designs and develops new digital services for the company's brands. read more

L’Oreal announced today that it has acquired Modiface, a company that’s had a hand in the creation of many custom augmented reality beauty apps, including those from Sephora and Estée Lauder. L’Oreal didn’t disclose the amount spent, but it did tell Reuters that it now owns Modiface’s numerous patents that help users visualize makeup and hairstyles on themselves. read more

Parham Aarabi, Founder and CEO of ModiFace. ModiFace will be part of L’Oréal’s Digital Services Factory, a dedicated network to design and develop new digital services for the group’s brands. ModiFace will work in close collaboration with L’Oréal’s Advanced Research, and benefit from an unrivaled century-old expertise in beauty. read more

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Why is L'Oreal buying a technology company?
Source: money.cnn.com