Apple acquires video editing company MotionVFX

Apple has acquired video editing firm MotionVFX, known for plug-ins, templates and visual effects tools that work with Apple’s Final Cut Pro. The deal is expected to help iPhone maker attract more subscribers to its recently announced Creator Studio bundle. It also underscores the company’s expanding services business, which now contributes over 26% of revenue, up from 8.5% in 2015.

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