Instagram has acquired the video sharing app Luma, in a deal whose terms were not disclosed. The app has tools for shooting and editing videos, with features including image stabilization and color correction. The app lets users shoot with a filter and then remove or change filters later on.

The service will likely be blended into the Instagram plaform, as the Luma app will be shutting down. It’s already unavailable in iTunes, though existing users can use the app through the end of the year. Here is more from the Luma blog:

As part of our move to Instagram, we are shutting down the Luma service. We want to make this transition as painless for you as possible. Here is a link to download your videos. We will also continue to support Luma until December 31st, 2013. Please don’t hesitate to contact us with any questions, comments, or requests for technical support at support@luma.io.

 (Via TechCrunch).