New report says Apple acquiring NextVR streaming company for 100 million
What you need to know
- Apple is suspected to have acquired NextVR.
- The company is in the process of being acquired for $100 million.
- NextVR specializes in live streaming events to VR or AR.
Apple continues to invest in augmented reality, something evident in the fact that it just released an iPad Pro with a LiDAR scanner that is also expected to make its way into the iPhone Pro this fall. The company's also been long rumored to be working on AR glasses.
A new potential acquisition continues to speak to Apple's commitment to the technology. As reported by 9to5Mac, Apple is suspected to be in the process of acquiring NextVR, a live event streaming AR/VR company that specializes in sports and entrainment events.
Their software is currently integrated with popular headsets from brands like Playstation, Oculus, HTC, Microsoft, and Lenovo. They also currently have partnerships with the NBA, Fox Sports, Wimbledon, and other entertainment events.
According to the report, NextVR "failed to secure a Series C round of funding in early 2019, however, which resulted in a 40% staff reduction at the time."
A shell company that was formed this year is in the middle of acquiring the company for around 100 million. The acquisition includes hiring the engineers who built the product and moving them "presumably the Cupertino area", a move that points to the idea that Apple is behind the purchase.
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Joe Wituschek is a Contributor at iMore. With over ten years in the technology industry, one of them being at Apple, Joe now covers the company for the website. In addition to covering breaking news, Joe also writes editorials and reviews for a range of products. He fell in love with Apple products when he got an iPod nano for Christmas almost twenty years ago. Despite being considered a "heavy" user, he has always preferred the consumer-focused products like the MacBook Air, iPad mini, and iPhone 13 mini. He will fight to the death to keep a mini iPhone in the lineup. In his free time, Joe enjoys video games, movies, photography, running, and basically everything outdoors.