It will be an investment that was supposed to be signed late at night, almost early Saturday morning. And do you know why?
Not because investors prefer to do their work early in the morning, but because this is an American investment, and it is during US business hours in the sense that the American stock market must be open. This is Facebook’s investment coming to Greece.
Under this Meta Platforms, Facebook will acquire 100% of Accusonus from its founders and shareholders at an enterprise price ranging from 70 million to 100 million euros.
What exactly does this mean? As Alexis Patelis, financial adviser to the Greek Prime Minister, explains, this is an investment related to virtual reality, a new opportunity that Facebook will bring to its users.
The goal of the Greek startup is to provide the audio solutions needed for the virtual reality or metaverse world developed by the American tech giant. It is noted that the term “metaverse” describes the connection of reality and virtual reality, leading to augmented reality in social networks. Thus, a Greek company (born and raised in Patras) will “manage” a significant portion of the global base of the metaverse.
The important thing is that Facebook can choose our country where its employees can work from. You know, this is not an easy task, since Facebook usually refuses its employees to work from other countries. In addition, this project is expected to require about 10,000 engineers, and this could be a good opportunity for Greek specialists to claim a share of this work.
Accusonus was founded in the midst of the financial crisis in 2013 to develop artificial intelligence tools that help process audio and video and allow professional audio engineers to use algorithms to improve recording quality. Its founders are Messrs. Al. Tsilfidis, El Kokkinis and M. Zannes.