WaveOptics snapped up in $500M deal

WaveOptics snapped up in $500M deal
25 May 2021
UK-based maker of augmented reality waveguides based on diffraction gratings to become part of Snap Inc., the software firm behind popular Snapchat app.
Snap Inc., the NYSE-listed software company behind photo messaging app Snapchat, is to acquire UK-based WaveOptics in a deal reportedly worth more than $500 million.
WaveOptics, which won a second consecutive Photonics Prism Award earlier this year, makes optical waveguides for augmented reality (AR) hardware. The optics technology features in Snap's latest generation of “Spectacles” AR glasses, which are aimed at content creators rather than consumers.
The deal marks Snap’s first foray into manufacturing, as the Santa Monica firm has - until now - outsourced production of its own AR glasses to various partners.

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