Apple will acquire video editing software company MotionVFX as part of efforts to strengthen the competitiveness of Final Cut Pro, TechCrunch reported on March 16 local time.
Financial details were not disclosed. MotionVFX has worked with Apple for more than 15 years, developing plugins and templates for Final Cut Pro.
MotionVFX, headquartered in Warsaw, Poland, offers subscription-based video editing tools starting at $29 a month. Apple is expected to strengthen its service portfolio through the acquisition.
The deal is also drawing attention amid analysis that Apple is moving to step up competition with Adobe Premiere Pro.
Apple earlier this year launched Creator Studio, introducing a subscription model that offers six apps including Final Cut Pro, Logic Pro and Pixelmator Pro, and iWork premium content for $12.99 a month or $129 a year.
Apple's services business has been the fastest-growing segment in recent years and accounted for 26 percent of total revenue last year. That is a sharp increase from 8.5 percent in 2015.
Chi-gyu Hwang
delight@d-today.co.kr