Snap to Acquire WaveOptics for Over USD 500 Million | #site_titleSnap to Acquire WaveOptics for Over USD 500 Million

Snap to Acquire WaveOptics for Over USD 500 Million

Snap Inc. (NYSE: SNAP) has agreed to acquire WaveOptics for USD 500 Million.  This comes as no surprise as the company is banking on AR eyewear heading to the mainstream platform in the future.  WaveOptics creates waveguides or a display technology that permits the overlaying of virtual objects on the real world through a transparent surface like glass and light projectors.  Snap will utilize WaveOptics displays in its new Spectacles that was announced this week. 

Other tech rivals are investing in their own waveguide technology in an attempt to debut AR glasses.  Google initially introduced Google Glass in 2013, has listed for a new team dedicated to build waveguides.  Apple bought a holographic waveguide maker Akonia in 2018 as it plans to announce an AR headset as early as next year while Facebook reported that it’s building custom waveguides for future AR glasses.  CEO Mark Zuckerberg reported that it will one day “redefine our relationship with technology.”

Snap is introducing new categories of intelligence to Scan with its partners. Screenshop gives shopping recommendations from hundreds of brands when Snapchatters Scan a friend’s outfit, and Snapchatters can also select photos from Memories to Scan with Screenshop. Soon, Allrecipes will recommend recipes based on ingredients seen through the Snapchat camera.

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