Apple is on the horizon for expanding its augmented and virtual reality teams and gather more patents. A rumored acquisition of California tech firm, NextVR is in the cards for Apple. But the deal is not cheap. NextVR is supposedly on the cards for around $100 million.
The Orange County-based tech firm is an exclusive live event VR coverage firm. It produces VR video content based on the audience gathering events like sports and musical performances. The firm has official partnerships with the NBA, Fox Sports, and Wimbledon among many others. But the content released is viewed by users using a VR headset like Oculus Rift, HTC Vive, Playstation VR and other such models.
But according to sources, the firm is in the process of acquisition by Apple. The 2 companies are working on a deal of around $100 Million. Apple previously failed with a Series C model in 2019, which led to a workforce cut by 40%. But it is true that the increased attention of AR might have NextVR’s virtual reality operation at risk for potential investors.
At the moment all such deals remain unofficial. Neither NextVR nor Apple has confirmed the acquisition story. Apple has recently invested a lot in AR and VR technologies. There are still rumors of Apple working on a smart glass or some kind of an AR or VR headset.
If we can visualize a greener future, we can make it real. Wonderful to take part in @MeshMinds’ #TodayAtApple session at Apple Orchard Road to see how children are harnessing the power of ARKit to keep our oceans clean. 🌏 pic.twitter.com/wD5kc0RiK8
— Tim Cook (@tim_cook) December 11, 2019
In terms of shipment of products, Apple launched ARKit, a framework that lets developers add AR to their iOS apps. The company has a significant amount of AR and VR-related patents. It covers both the hardware and system for display and production of content.