Snap has bought WaveOptics, the provider of augmented reality screens behind its Spectacles 4, for more than $ 500 million, reports The Verge. It is one of the most important transactions in the history of the start-up, underlining the strategic nature of augmented reality for it.
UK-based WaveOptics has raised a total of $ 65 million since its inception in 2014, according to financial data firm PitchBook. Following the takeover, the team of approximately 125 people will now report to Snap’s hardware business manager Steen Strand. The social network indicates that despite this change of direction, WaveOptics will continue to supply other companies.
Make augmented reality accessible
Snap also announced on May 20 its new glasses that embed augmented reality, Spectacles 4. Available only for content creators, the general public will have to be patient. However, this investment is undoubtedly a sign that Snap wants to develop its glasses in a more global way.
For its part, WaveOptics has indicated that it wants to manufacture AR screens suitable for massive deployment. For Evan Spiegel, CEO of Snap, it will take about a decade before augmented reality glasses become sufficiently accessible to the greatest number.