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Apple Confirms Acquisition Of Virtual Reality Startup NextVR

Apple Inc. (NASDAQ: AAPL) on Thursday confirmed to Bloomberg that it had acquired virtual reality startup NextVR.

Benzinga · 05/15/2020 04:00

Apple Inc. (NASDAQ: AAPL) on Thursday confirmed to Bloomberg that it had acquired virtual reality startup NextVR.

What Happened

"Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans," a spokesperson for the Cupertino-based company told Bloomberg. This is a typical response Apple is known to send out when it intends to confirm an acquisition.

The deal was long-rumored, and 9To5Mac reported in April that the deal could be worth $100 million.

NextVR provides sports and content for virtual reality and augmented reality headsets, including for Facebook Inc.'s (NASDAQ: FB) Oculus, and devices of other companies, like Sony Corporation (NYSE: SNE) and HTC Corporation (OTC: HTCXF), Bloomberg noted.

The startup also has partnerships for streaming of major sporting events, including the NBA league and Wimbledon.

"NextVR is Heading in a New Direction," the company says on its website, without a mention of Apple or the acquisition.

This is the third acquisition Apple has confirmed this year after weather app Dark Sky and voice technology app Voysis.

Price Action

Apple shares closed 0.6% higher at $309.54 on Thursday. The shares added another 0.2% in the after-hours at $310.20.