Apple Acquires VR Content Broadcast Firm NextVR

Apple has been acquiring several small and medium-sized companies over the past few years. Today, it was announced that the company has acquired VR (virtual reality) content broadcast firm NextVR for an undisclosed sum. NextVR has announced that it is “heading in a new direction.

NextVR Logo Apple Acquisition

Apple confirmed today that it has acquired NextVR, a company that provides VR content such as sports and videos for VR headsets from various brands. This is at least the third acquisition by the iPhone maker in 2020, and it looks like the company will continue to acquire more firms during the rest of the year.

While neither Apple nor NextVR have disclosed the monetary details of the acquisition, 9To5Mac had earlier reported it to be somewhere around $100 million. It is also being reported that not all NextVR employees are going to work for Apple after this deal. The company officially shut down earlier this week.

NextVR provides VR content for VR headsets from Facebook-owned Oculus, HTC, Lenovo, and Sony. The company has video broadcasting deals with various sports leagues, including NBA (National Basketball Association), and entertainment networks such as Fox Sports. The company has experience in broadcasting live events such as music concerts and sports matches.

Apple’s acquisition of NextVR is expected to help the company with the development of its AR and VR headsets and the accompanying software and content. It is being reported that Apple will launch its AR glasses in 2022 and a full-fledged AR/VR headset a few years later.

This year, Apple acquired an Irish startup Voysis, which focuses on voice-based technologies. The Cupertino-based consumer tech giant also purchased Dark Sky, a hyperlocal weather startup.

Since Apple doesn’t have a headstart in the AR/VR segment, unlike other firms like HTC, Oculus, and Sony, the company is focusing on acquiring talent and technologies in the space to accelerate the development of its AR/VR products. It is also developing several AR and VR patents in-house, and all of this will help Apple in the coming years once it launches its first AR and VR products.

[Source: Bloomberg]

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