Snap Acquires AR Company Illumix to Strengthen Spectacles and AR Platform
By
Corbin Bolies
A respectable bake. You'd come back tomorrow for another.
Summary
Snap Inc., the parent company of Snapchat, has acquired spatial augmented reality company Illumix to strengthen its AR capabilities. The acquisition was driven by Illumix's work in scaling mapping technology for real-world experiences. Snap will integrate Illumix's technology and platform into its revamped Spectacles AR glasses and retain most of Illumix's staff. The transaction value was not disclosed. This follows Snap's launch of a standalone AR glasses subsidiary, Specs Inc., in January.
Key quotes
· 5 pulledSnap, parent of Snapchat, has acquired spatial augmented reality company Illumix in a bid to boost its AR efforts.
The company's interest was spurred by Illumix's work in scaling its mapping technology and building it out for real-world experiences.
Snap will adopt Illumix's technology and platform as it seeks to build out its revamped Specs glasses.
Snap will also retain most of Illumix's staff.
Snap is not disclosing the transaction's value.
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