Apple acquires VR company NextVR

Apple has acquired the virtual reality streaming platform NextVR, signaling what could be the next phase of the tech giant's plans to move into the virtual and augmented reality space. Apple has declined to disclose the amount of the deal, whereas 9to5Mac estimates the acquisition was worth $100 million. The AR glasses and headset may have VR features similar to how the HoloLens, Magic Leap One, and Windows Mixed Reality devices work.

A deal between the pair had first been reported in early April. As it typically does, the company shared its acquisition statement: "Apple buys smaller technology companies from time to time, and we generally do not discuss our goal or plans".

The acquisition may help Apple's development of VR and AR headsets with accompanying software and content. NextVR supplies content to several existing VR headsets, including Facebook Inc.'s Oculus and devices from Sony Corp., HTC Corp. and Lenovo.

The acquisition has been confirmed by Bloomberg, but no purchase price has been confirmed as Apple tends not to discuss those details.

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Most of the engineers who developed NextVR are being hired by Apple. It was also stated in the report that both of the companies have begun informing employees from San Diego that they will need to relocate to Cupertino.

Next VR raised $115.5 million, according to startup tracker Crunchbase.

The company, which is located in California, is mostly known for partnerships with the National Basketball Association and Wimbledon to stream live sports from specialized cameras set up court-side to people's headsets at home. Instead of focusing on the hardware side of displaying virtual reality content, NextVR was founded around to video capture and compression to experience it in 360 degrees no matter what device the content would be viewed on.

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