Facebook (NASDAQ:FB) acquired Source3, a New York, NY-based enterprise licensing and rights management platform.
The amount of the deal was not disclosed.
Backed by Vanham Ventures, Source3 provides a platform to simplify rights management and distribution of 3D content. The company has developed technology to recognize, organize and analyze branded intellectual property in user-generated content across a variety of areas including sports, music, entertainment and fashion and has built an end-to-end platform to manage online IP and establish relationships with brands.
The team – led by CEO Patrick Sullivan and COO Tom Kurke – now will bring its IP, trademark and copyright expertise to the team at Facebook and serve their global community (of two billion people), who consume content, music, videos and other IP every day.