Image Metrics said it has sold off the Faceware professional facial animation software to a new spin-off company Faceware Technologies.

Santa Monica-based Image Metrics developed the Faceware technology to create realistic human faces for movies, animations and video games. The technology has been successfully used in a wide range of entertainment, from Assassin’s Creed II to Red Dead Redemption.

Now Image Metrics will focus on delivering products based on its consumer animation and facial recognition technologies such as PortableYou, an app for adding 3D avatars to web sites, and the digital comic book Zombie Wars, where you can put your own face into an animated character.

Faceware Technologies will focus on selling technology to professional animators. Financial details were not disclosed.

“This transaction is a great opportunity for both Image Metrics and Faceware Technologies because each company can focus on delivering exceptional products and services to its target customers and enable both companies to unlock faster growth potential in each market,” said Robert Gehorsam, chief executive of Image Metrics.

Ron Ryder, currently chief financial officer and chief operating officer of Image Metrics, will lead FTI during a transitional period.

“There will be no interruption to the pace of innovation in the product line during 2012 and beyond,” Ryder said.

Image Metrics was founded in 2000. The company has raised more than $14 million to date.