By Micah Maidenberg

Verizon Communications Inc. (VZ) has acquired up a batch of assets from Jaunt Inc., a technology company focused on augmented reality.

Closely-held Jaunt announced the sale to the telecommunications and media giant on Monday, declining to disclose a sales price. Verizon purchased "software, technology and certain other assets" from Jaunt, the tech firm said.

Jaunt says on its website that it uses artificial intelligence and machine learning technology to create videos of humans in augmented-reality environments.

In 2018, Jaunt launched a content library that consumers who own virtual reality headsets can access, CNBC reported.

Investors in San Mateo, Calif.-based Jaunt include Walt Disney Co. (DIS), Madison Square Garden Co. (MCN) and Axel Springer SE (SPR-ETR).

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

September 30, 2019 16:06 ET (20:06 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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