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Snap Is Acquiring AR Display Maker WaveOptics for More Than $500 Million
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variety.comTodd Spangler NY Digital EditorIn its biggest-ever acquisition, Snap is buying U.K.-based WaveOptics, the company that makes the augmented-reality displays for Snap’s new Spectacles smart glasses, in a deal worth more than $500 million.A Snap spokesperson confirmed the company’s acquisition of WaveOptics, which was first reported by The Verge.
WaveOptics reps didn’t respond to a request for more info.Under the terms of Snap’s deal for WaveOptics, it will pay approximately half the purchase price at closing in stock.
After two years, Snap would pay the other half in either cash or stock. WaveOptics, which is based in Oxford, U.K., had raised about $65 million in funding to date, according to PitchBook Data.News of Snap’s acquisition of.
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