Tech giant Apple recently confirmed that it acquired NextVR. The virtual reality (VR) startup provides sports and other content for VR headsets.
The new Apple acquisition helps Apple’s development of VR and AR (augmented reality) headsets along with software and content to go with it. The startup also provides the content to several existing VR headsets. These include Facebook’s Oculus and various devices from Sony, HTC, and Lenovo.
This acquisition should come as no surprise to those familiar with Apple’s virtual reality endeavors. The company has been steadfast in its efforts to carve out space within the market and is rumored to have plans to create an Apple AR-focused headset. The tech giant has also acquired a number of smaller tech firms in the AR and VR spaces in the past, including Flyby Media nearly four years ago.
Before confirmation of the acquisition, NextVR closed its doors and later updated its website to say that the California-based startup is “heading in a new direction.” In a statement related to the acquisition, an Apple spokesman shared, “Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.”
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI