Snap acquired an augmented reality development company

It is reported that Snap, which operates SNS service Snapchat, has acquired WaveOptics, which develops augmented reality technology.

According to reports, Snap’s acquisition of Wave Optics is more than $500 million. Even after the acquisition, Wave Optics is said to be able to supply augmented reality products to other companies. Wave Optics is developing a floodlight that shows a virtual display on the surface of a transparent material such as glass. The company’s technology was also adopted in the 4th generation of the latest AR smart glass, Spectacles, announced by Snap.

This acquisition is meant to prevent Snap from being able to use augmented reality-related technologies as Wave Optics is acquired by a third party. Currently, AR smart glasses are expected to be released by Apple and Samsung Electronics. Given this situation, the demand for technology related to augmented reality companies is expected to increase more and more. Related information can be found here.