Jaunt XR, a startup focused on producing augmented reality applications, announced recently that Verizon acquired all of the company’s tech assets. The statement pointedly leaves out any mention of an acquisition of the company itself by Verizon. Jaunt XR failed to mention whether it would continue operations on its own. After the purchase, they don’t have much tech left in their possession. Even if they did manage to go ahead as an independent company, they might find it challenging to compete in the industry.
Jaunt XR was initially founded in 2013 to develop tech to record and deliver VR video. The company’s first production was a 360-degree VR camera. In late 2018, however, the company realized the expanded possibilities in the world of augmented reality. They shifted focus to this field, attempting to adapt their tech to the new industry they tasked themselves with infiltrating.
Verizon’s Investment in AR and VR is Growing
Verizon has been responsible for producing both AR and VR content for quite a while. In 2016, it bought another VR company named RYOT. The convoluted acquisition was actually from RYOT being acquired by AOL, who Verizon then obtained, and consolidated into Verizon Media. To date, the technology from RYOT has been used to help Verizon produce and distribute augmented reality advertising to consumers.
Verizon isn’t done yet, since last year the company unveiled plans to produce a studio that focuses on immersive entertainment. Termed RYOT Innovation Studio, the company intends to develop and sell immersive entertainment utilizing its 5G network to provide fast transfer rates and connection stability. Jaunt’s tech definitely fits into this long-term plan of Verizon’s. However, it’s unlikely that the company itself will remain an independent entity after the telecom giant finished cannibalizing them. It seems as though Verizon has concluded that it just needs to buy the milk, even if the cow dies of starvation.