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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 $500Â 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 âSpectaclesâ AR glasses, which are aimed at content creators rather than consumers.
The deal marks Snapâs first foray into manufacturing, as the Santa Monica firm has - until now - outsourced production of its own AR glasses to various partners.
Snap acquires AR display provider WaveOptics for $500M
Adv.
San Francisco, May 22 (IANS) Snap which is the parent company of popular social media app Snapchat has acquired augmented reality (AR) display provider WaveOptics, that power its new Spectacles glasses, for more than $500 million, the media reported.
According to The Verge, the UK-based WaveOptics will continue to supply other firms with its display technology called “waveguides” and work with Snap on custom optical systems.
Snap unveiled the next generation of Spectacles on Thursday, its first pair of glasses that bring augmented reality to life.
Adv.
Not for sale and designed for creators, Spectacles enable augmented reality creators to discover new ways to fuse creativity and utility through immersive experiences built in Lens Studio.
Snap acquires AR display provider WaveOptics for $500 million
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