Apple acquires VR technology company NeXTVR

Apple has acquired NextVR, a virtual reality technology company. NextVR provides 360-degree video of sports and music concerts and provides services to viewers of real-time broadcasting as if they were in the field.

NeXTVR changed the landing page on the website saying they are heading in a new direction. As for the purpose of acquiring NeXTVR, Apple declined to disclose its purpose or plan. According to reports, the terms of the acquisition or other details are unknown, but the acquisition price is estimated to be around $100 million.

According to market research firm Peachbook, NextVR raised $116 million in funding mainly from entertainment such as Comcast Ventures and Time Warner Investments, and 95 employees have been employed in 2019. NeXTVR reported to its employees about the transfer of the company’s headquarters in San Diego in April.

Already several years ago, there have been reports that Apple is developing virtual reality or augmented reality products, and Tim Cook has also been talking about the possibilities of augmented reality whenever there is a chance. In the January performance report, he also said that the reason he is excited about AR or VR technology is that there are few new technologies and opportunities that can appeal to both consumers and businesses. At WWDC in 2017, Apple announced the introduction of VR headset support for Mac and ARKit in iOS 11. ARKit currently provides version 3.5, and is in progress for AR and VR in development environment.

In addition, NextVR holds dozens of patents for video services. Apple acquired iKinema, a motion capture technology company, in 2019. Related information can be found here .