Verizon has acquired some assets of virtual reality video start-up Jaunt XR. Terms of the deal were not disclosed. According to CNBC, Verizon will own Jaunt’s software and technology, among other assets.
Jaunt also announced this news on its website.
Jaunt XR today announced the acquisition of its software, technology, and certain other assets by Verizon Communications for an undisclosed amount. Jaunt XR is a leader in the immersive industry with a focus on the scalable creation and distribution of volumetric video of humans.
Jaunt stated that it will be assisting Verizon with the transition of select portions of the software and technology for a brief period of time.
“We are thrilled with Verizon’s acquisition of Jaunt’s technology,” said Mitzi Reaugh, President & CEO of Jaunt XR. “The Jaunt team has built leading-edge software and we are excited for its next chapter with Verizon.”
The Verge reported that it is unclear exactly what parts of Jaunt XR’s technology Verizon is buying, or whether Jaunt XR will continue to exist after they finish assisting Verizon “for a brief period of time”.
The Verge also noted that Verizon has a history with VR and AR. Last year, Verizon launched RYOT Innovation Studio, which aims to build immersive entertainment that shows off Verizon’s faster 5G network speeds.
I haven’t been able to find anything that specifically states how the purchase of Jaunt XR will affect Verizon customers. For whatever reason, Verizon isn’t being incredibly clear about that. I’m assuming that whenever Verizon is ready, they will let everyone know about this new purchase and how they are planning to use it.