Apple likely to buy NextVR live event streaming AR/VR firm for $100M

Apple is believed to be in the process of acquiring Orange County, California-based virtual reality company called NextVR, 9to5Mac reports.

The company currently provides VR experiences for viewing live events with headsets from Lenovo, HTC, Oculus, PlayStation, and Microsoft headsets. NextVR has already has partnerships with the NBA, Fox Sports, Wimbledon, and other live sports, dance, and music event partners.

Apple patent application illustration
Apple patent application illustration

Zac Hall for 9to5Mac:

The icing on the cake may not be expertise in virtual reality, however, as NextVR also has holds patented technology that upscales video streams. NextVR uses this technology to support high quality video streams of music and sporting events to VR headsets. NextVR holds over 40 technology patents in total.

The acquisition is expected to be valued around $100 million, and a shell company formed this year that’s believed to be Apple is hiring most of the engineers who develop the product. While the acquisition hasn’t closed yet, the two companies have began informing employees who will need to relocate from the San Diego area to presumably the Cupertino area.

MacDailyNews Take: Obviously, NextVR tech would be a component of “Apple Glasses.”

If you’re not familiar with NextVR, here’s an overview video:

Check out NextVR’s YouTube channel here.

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