Verizon Purchases Entirety Of Jaunt XR’s AR Technology
Verizon’s acquisition will include Jaunt’s volumetric capture and machine learning technology.
It’s been a rocky couple of months for Jaunt XR. Late last year the software development startup conducted a series of layoffs to its staff as part of the companies transition from VR content to the development of AR technology with a focus on volumetric video capture. In November, the company began seeking buyers for its VR business and this past December company co-founder Arthur van Hoff announced his departure from the organization.
Today, Jaunt announced the sale of all company assets to Verizon Communications Inc. as part of a new acquisition by the multimedia corporation. Sold for an undisclosed amount, Verizon has purchased access to the entirety of Jaunt’s software and technology, as well as other valuable assets, including its volumetric video capture technology.
“We are thrilled with Verizon’s acquisition of Jaunt’s technology,” said Mitzi Reaugh, President & CEO of Jaunt XR, in an official release. “The Jaunt team has built leading-edge software and we are excited for its next chapter with Verizon.”
While speaking to The Verge, a spokesperson for Jaunt confirmed that the company had sold “all” of its technology to Verizon, but was unclear in regards to whether or not the company would continue to operate independently. According to the release, Jaunt will spend a brief period of time helping teams at Verizon familiarize themselves with the technology.
Founded in 2013 in San Mateo, California, Jaunt has released a variety of cinematic VR content over a variety of platforms, including their own dedicated app. In 2015 – 2016, the company received a $64M investment from Disney. Since then, the company struggled to gain traction with users, eventually abandoning its VR ambitions in favor of green pastures.
Feature Image Credit: Jaunt XR