Picsart, announced today it’s acquiring Armenia-based company DeepCraft.

TechCrunch reports that the deal is a combination of both cash and stock and is in the seven-figure range, but the exact terms aren’t being disclosed.

Picsart believes DeepCraft’s AI technical talent and its breakthroughs in computer vision and machine learning will enhance Picsart’s own AI technology and help the company better support the recent growth of video creation on its service.

DeepCraft has been founded in 2017. Its co-founders, Armen Abroyan (CEO) and Vardges Hovhannisyan (CTO) have spent more than 20 years in AI and machine learning.

In total, the full DeepCraft team of eight senior machine learning and video engineers will be joining Picsart as full-time employees as a result of the deal.

Picsart already had a relationship with DeepCraft ahead of the deal as the two had been collaborating on various technology developments.

“DeepCraft is a unique team of deep technology engineers, and we’ve already been working with them to build our core technologies for over a year,” said Picsart co-founder and CTO Artavazd Mehrabyan. “As we invest even further into advancing our video capabilities, we are confident the DeepCraft team will play a significant role in building the future of video,” he added.