Apple reportedly in talks to acquire NextVR for $100 million

It appears that it Apple going to hire most of NextVR's current engineers

Apple logo on iPhone

Apple is reportedly in the process of purchasing California-based virtual reality company NextVR.

The acquisition is reportedly valued around $100 million (approximately $142 million CAD), according to 9to5Mac. Rumours also suggest that Apple has hired most of the engineers that work at NextVR.

Although nothing has been confirmed, reports indicate that NextVR employees have been notified if they need to relocate to the Cupertino area following the acquisition.

NextVR currently offers VR experiences to watch live events with headsets from Microsoft, PlayStation, HTC Oculus and Lenovo. The company also has patented technology for high quality video streams.

The company was unable to secure Series C funding last year, which caused it to reduce its staff by 40 percent.

It’s clear that Apple has had ambitious plans for augmented reality since there have been several rumours that it is releasing an AR headset in the future. However, it now seems that the tech giant has also taken an interest in virtual reality as well.

Source: 9to5Mac