(Reuters) – China’s AI-powered content platform Bytedance Ltd said on Friday it would merge with lip-syncing app Musical.ly Inc.
Financial terms of the deal were not disclosed.
Musical.ly will continue to operate as an independent platform post merger, while integrating Bytedance’s technology to boost innovation in video content creation, Bytedance said.
Musical.ly’s co-founders Louis Yang and Alex Zhu and their global team will join Bytedance and will continue to run the Musical.ly platform, it said.
Reporting by Shalini Nagarajan in Bengaluru; Editing by Gopakumar Warrier