Meta has reached an agreement to acquire Butterfly Effects, a Singapore - based company. Butterfly Effects is a specialist in crafting AI agent products, with its flagship offering, Manus, tailored for small and medium - sized enterprises. This acquisition is a major stride for Meta in the artificial intelligence arena, which lies at the heart of its strategic vision.

The Manus product operates on a subscription model. At the start of the year, it boasted an annualized revenue of $125 million. The deal, estimated to be worth several billion dollars, stands as Meta's third - largest acquisition since the company was founded.

Post - acquisition, Butterfly Effects will maintain its independent operations. Its founder will take on the role of a vice president at Meta. Originally established in China, Butterfly Effects later made the strategic move to relocate to Singapore. Earlier in the year, its parent company successfully completed a financing round, achieving a valuation close to $500 million. At the beginning of the year, Manus rolled out an AI agent product with the capability to handle a wide range of general tasks.