What They Say
Snap is acquiring WaveOptics of Oxford in the UK for over $500 million in cash and stocks having just announced new glasses using the optics. The new glasses will be limited to a’select group of creators’ rather than publicly available.
It was not clear at press time whether WaveOptics would continue with a merchant business or have its technology exclusively used by Snap.
What We Think
We’ve been reporting on WaveOptics since 2017 (WaveOptics Raises Funds For Developing Important AR Optical Components). This deal looks like a good one for the backers as the company was valued at just over $100 million by PitchBook, and is reported to have raised $65 million from its investors since 2014. Last year we reported on a deal between WaveOptics and Plessey. (BR)
