Facetune creator Lightricks to split into two units as AI premium outpaces traditional software
The creator of the Facetune photo editing app, Lightricks, is splitting its consumer app business from its generative AI video platform LTX, according to an internal memo seen by Reuters, better positioning itself to capture the growth in artificial intelligence as it reshapes traditional software businesses.
The design software developer is the latest company to separate its legacy operations from higher-growth AI initiatives as investors reassess the value of established software businesses amid rising focus on artificial intelligence.
