As reported by TechCrunch, the popular photo- and video-sharing company has acquired Luma, formerly Midnox. Luma is the creator of Luma Camera for iOS, a video-sharing app featuring cinematic video stabilization (see video below), filters, color grading, and zoom capabilities.
The acquisition is announced by Luma on its homepage:
Eighteen months ago, we embarked on a mission to make capturing and sharing beautiful videos easy without expensive software or heavy equipment. By joining the exceptionally talented team at Instagram, we’re taking another big step towards realizing that mission. We’re incredibly excited to be able to help make a product that is already used and loved by millions of people even better.
If you can’t see the video embedded above, please click here.
Indeed, Instagram picked up Luma so as to incorporate the latter’s video-recording technology into the former’s relatively new video-sharing feature. Instagram added video support to its app last June in response to the increasing popularity of Twitter’s video-sharing app, Vine.
As for Luma Camera itself, the app has been removed from the App Store as a result of the acquisition. But existing users will continue to be supported by Luma until Dec. 31, 2013. If you are one, you may download your videos on the service by logging in to your account here.