Facebook Inc (NASDAQ:FB) Acquires Nascent Objects

Facebook Inc (NASDAQ:FB) has acquired a hardware startup called Nascent Objects which makes modular consumer electronics.

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The acquisition of the hardware startup highlights Facebook’s move towards the hardware business. The company is also creating Wi-Fi drones, virtual reality headsets, and data servers. The acquisition of Nascent is geared towards strengthening Facebook’s hardware offerings. Nascent Objects posted the news of the acquisition on its website. The startup is known for modular design and 3D printing.

Nascent is expected to help Facebook develop hardware products at a faster rate. The terms of the acquisition were not disclosed. It is, however, clear that Nascent Objects will be joining Facebook’s hardware development initiative known as Building 8. The latter is Facebook’s unit where developers and engineers get to test out prototype products and equipment.

“Imagine designing, building and delivering a hardware product in just weeks. Instead of months, or even years,” stated Regina Dugan, head of Building 8.

Dugan also posted on her Facebook that the inclusion of Nascent into the product development division will allow the creation of hardware faster. Facebook is yet to make more comments about its plans with the acquisition. However, the decision to move further into hardware is part of CEO Mark Zuckerberg ten-year vision for his company. The plan includes more investment in artificial intelligence, internet access, and virtual reality and it also aligns with Zuckerberg’s mantra of creating a more connected world.

“We’re excited to build products that can open the world to everyone and create on a scale we couldn’t have imagined before,” pointed out Baback Elmieh, CEO of Nascent Objects.

Nascent could also benefit from higher success by being part of Facebook. The social giant’s stock closed the latest trading session at $128.65 with a $0.42 or 0.33% drop compared to the previous trading session.

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