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Meta, Facebook’s Parent Company, in Talks to Acquire Two Greek Startups

Facebook Meta Greek Startups
Facebook CEO Mark Zuckerberg announced late last year that the company will rename itself Meta. Now it will be acquiring two Greek startups. Credit: Facebook Livestream

The Facebook parent company, Meta Platforms, is reportedly in advanced discussions for acquiring two Greek startups, it emerged on Tuesday.

According to reports, discussions are at an advanced stage for the acquisition of Accusonus, Inc, a Greek startup company that develops software for music production/performance and audio repair and Vimodji, which has developed innovative applications for emoji videos using artificial intelligence.

In the wake of the big deal to acquire a 49% stake in Viva Wallet from JP Morgan Chase, these new deals, if confirmed, constitute a vote of confidence by major international multinationals to the Greek start-up ecosystem.

Greek daily Kathimerini says that Meta Platforms will acquire 100% of Accusonus from its founders and shareholders, Alexandros Tsilfidis, Elias Kokkinis and Michael Tzannes, as well as its other shareholder, Big Pi Ventures, co-founded by Marco Veremis, whose enterprise value is between 70 and 100 million euros.

The products of Accusonus, founded in 2013, are used by many Grammy-winning producers who have collaborated with big names in the music industry, such as Bob Dylan, Lou Reed, and Shakira.

The company develops artificial intelligence tools which help in the processing of audio and video. Professionals and non-professionals alike have the ability to directly repair the sound in their videos through its algorithms, giving the impression that they have been shot in a professional studio.

Meta Platforms will continue Accusonus’ operations in Greece’s Athens and Patra. The company is based in the state of Massachusetts in the US.

Facebook reportedly in talks to also buy Greek startup Vimodji

Also on Wednesday, Businessdaily reports that the Greek startup Vimodji is in the sights of Meta with a price that is expected to exceed 100 million euros.

The report says that the technology available to the Greek startup founded by Vassilis Kallitsis and Eleftheria Mamidakis fits perfectly with the plans of the technology giant.

Vimodji, was among the first companies in the world to produce emoji video with audio, using local content based on emotion through its emotional intelligence (EI) engine. This allows users to communicate their thoughts and feelings by selecting short video scenes that reflect what they want to say and share.

Vimodji, the first Greek application that has been integrated into Viber as a chat extension, is one of the fastest-growing startups, already having an international presence, while also collaborating with the American firm VIEWPARK.

Meta mulls subsidiary in Greece

Moreover, it has been reported that Meta Platforms executives were in contact with the Greek government in order to evaluate the prospect of establishing a subsidiary in Greece and transferring a significant number of their employees from other parts of the world to the country.

The talks with the government staff were headed by Alexis Patelis, the chief of Prime Minister Kyriakos Mitsotakis’ financial office.

The discussions included detailed presentations of both the tax and labor framework in Greece, as well as the insurance coverage, benefits, and incentives that have already been enacted to attract foreign workers and companies to relocate.

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