Apple Buys Virtual-Reality Streaming Upstart NextVR
May 14 2020 - 9:07PM
Dow Jones News
By Kimberly Chin
Apple Inc. has acquired virtual-reality streaming company NextVR
Inc., a signal of the tech giant's continued ambitions in virtual-
and augmented-reality technologies.
Apple confirmed the deal Thursday but didn't disclose the terms
of the transaction. In a statement, a company spokesman said,
"Apple buys smaller technology companies from time to time, and we
generally do not discuss our purpose or plans."
NextVR said on its website that it is "heading in a new
direction."
The Newport Beach, Calif.,-based company broadcasts live and
recorded events, such as sports games and music concerts, for
virtual-reality headsets. It has a long list of high-profile
partnerships that include the National Basketball Association, the
National Hockey League, World Wrestling Entertainment, Fox Sports,
and Live Nation.
Apple has been looking at VR and AR technology for years and is
said to have built headset prototypes. The tech giant has acquired
a number of smaller technology firms in the space, including Flyby
Media about four years ago.
Chief Executive Officer Tim Cook has shown great interest in the
technology. "It's really cool and has some interesting
applications," he said in a conference call with analysts in
2016.
Virtual reality technology allows users to be totally immersed
in an experience through the use of headsets and headphones. With
augmented reality, users can see holograph elements overlaid on
what they see in the real world.
NextVR has also worked with content makers to produce its own
live and recorded VR content on its platform as well as on other
existing VR headsets from Sony Corp.'s PlayStation, Facebook Inc.'s
Oculus, HTC Corp.'s Vive and Vive Pro, and more.
Over the past two months, Apple has engaged in a number of
deals, scooping up the weather app Dark Sky and the Dublin-based
artificial-intelligence voice startup Voysis.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
May 14, 2020 20:52 ET (00:52 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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