Snap buys augmented actuality firm WaveOptics in $500 million deal
Snap confirmed to CNBC on Friday the deal is price about $500 million in money and inventory, with about half paid upfront in inventory. Snap pays the rest in money or inventory in two years. The Verge first reported on the acquisition.
Shares of Snap have been flat.
Supply: SNAP Inc.
They are a first step within the race to AR glasses amongst tech firms, nevertheless, with different corporations like Apple and Automobilnews engaged on comparable merchandise. Builders might want to make compelling apps for the glasses, which presently solely have about half-hour of battery life.
However Snap is nicely on its technique to having numerous compelling augmented actuality apps, since AR is already an enormous a part of the Snapchat app. Snapchat customers can already make the most of AR for procuring, creating video and photograph filters and extra via their telephones.
Snapchat’s new AR Spectacles glasses
Snap’s AR glasses are totally different than some AR merchandise that exist already, like Microsoft’s HoloLens 2, which is way bigger and appears extra like a headset than a set of glasses.
WaveOptics creates among the components that folks look via whereas carrying the glasses, like waveguides— that are type of like little home windows you look via that present the computer-generated imagery — and projectors that direct mild on the waveguides. It additionally makes and sells full options, known as modules, which embrace the waveguides and projectors mounted to frames.