Apple is set to acquire VirtualVR, a virtual reality video streaming service, for $100-million. NextVR has over a decade of experience in broadcasting live events in virtual reality to various headsets, thus revolutionizing the way fans watch sports as well as entertainment. What may have caught Apple’s eyes are its patents to video upscaling technology used in high quality streaming to headsets.
In all, NextVR holds more than 40 patents for this technology, but unfortunately, was unable to secure a Series C round of funding in 2019, thus causing the company to lay off 40% of its staff, despite partnerships with the NFL, NBA, NHL, WWE, Wimbledon, etc. Previously, NextVR was developing six degrees of freedom-enabled volumetric video, higher resolution output, and AR support for its video streams. This move will boosts Apple’s portfolio of VR and AR technologies over the next few years.
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Apple announced to its employees earlier this year that it was hoping to launch the company’s first augmented reality headset by 2022.
