Verizon Acquires Software and Technology of Augmented Reality Startup Jaunt XR

verizon acquires software and technology of augmented reality startup jaunt xr

Jaunt XR, an AR start-up, has announced the acquisition of its assets. Reportedly, Verizon has purchased all software and technology along with some other properties of Jaunt. Remarkably, the announcement does not reveal whether Verizon is procuring the augmented reality startup. Even more, it is unclear whether the company will keep functioning separately. Thus the exact terms of the deal remain mysterious. As a part of the bid, Verizon will be the owner of Jaunt’s technology and software. Mitzi Reaugh, Jaunt’s CEO, said they are excited with the acquisition deal between both companies. She said their company had developed top-edge software and they are delighted to move ahead with Verizon.

Jaunt XR, a company founded in 2013, had an aim to create virtual reality videos. Even more, it had founded a foothold in VR technology, developing software, tools, hardware, and apps. Jaunt’s functioning assisted people, including users and brands, to create top-notch VR content. After that, the company unveiled a Netflix-like content library for VR headsets. Apart from this, Jaunt has brought up around $100 million in finance from Redpoint ventures, Disney and GV, a venture arm of Google. Jaunt has also released a 360-degree camera along with functioning on some of the prominent early virtual reality video productions. Later in 2018, the startup moved its aimed to AR, i.e. augmented reality.

Reportedly, Jaunt specializes in scalable creation and deployment of volumetric video of humans. As per the company’s representative, Jaunt is selling all technology and software to Verizon. Still, it is unclear whether the agreement includes patent collection. Even more, Jaunt’s spokesperson has declined to comment on whether the startup will continue or not. Notably, Jaunt will help out Verizon with the changeover of some portions of the technology and software for a short time. Thus it does not seem like the workforce of Jaunt will come aboard Verizon as a part of the transition.

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