Facebook parent company, Meta, is reportedly acquiring Greek tech startup Accusonus for up to 100 million euros

Just a little over three months after Facebook changed its name to Meta, the social giant is now aiming to position itself as the dominant player in the metaverse space through hiring and new acquisitions. To that end, Facebook has now set its sights on Accusonus, a Greek audio software startup that creates and licenses sound-processing software that uses AI.

According to multiple media reports, Meta Platforms Inc, the owner of Facebook, is close to acquiring Accusonus, Reuters reported, citing a person with knowledge of the deal. However, Facebook spokespeople declined to confirm the deal, which the source said would be announced in the next few days.

“We don’t comment on rumors or speculation,” a Facebook spokesperson said in an email. Accusonus spokesperson also did not respond to calls or messages requesting comment.

Founded in 2012 by Alexandros Tsilfidis, Elias K. Kokkinis, and Michael Tzannes, Accusonus’ vision was to commercialize the founders’ breakthrough research in audio technologies to make an impact in the global digital audio and speech technology market.

Accusonus possesses the technology and software that would help Meta achieve its “Metaverse” vision. Since its inception ten years ago, Accusonus has raised over $4M in funding over 2 rounds. The startup is valued at between 70 and 100 million Euros.

Based in Akhaia, Greece, the startup currently employs about 50 people and prides itself in the broad use of its software among sound engineers and companies worldwide. Its products are used by engineers working with musicians such as Bob Dylan, Lou Reed, Goo Goo Dolls, Super Furry Animals, Wilco, Jennifer Lopez, and others.

Reuters is not the only outlet that reported the news of the acquisition. Greek daily, Kathimerini, also reported that Meta Platforms is “reportedly in advanced discussions for the establishment of a Greek subsidiary, under whose umbrella international activities that are currently being implemented in other countries can be transferred.”

Kathimerini said that “discussions are also at an advanced stage for the acquisition of Accusonus, Inc, a Greek startup company that develops software for music production/performance and audio repair.”

“Kathimerini understands 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,” Greek daily reported.