Summary
- Verizon has acquired Jaunt for an undisclosed sum.
- Jaunt has developed augmented reality and virtual reality technologies.
- For VZ, the deal adds to its growing AR/VR content and technology efforts as it prepares for the next wave of media and entertainment offerings.
- Looking for more stock ideas like this one? Get them exclusively at IPO Edge. Get started today »
Quick Take
Verizon (VZ) has acquired Jaunt for an undisclosed amount, according to a news report.
Jaunt has developed technology that enables capturing and publishing human forms in augmented reality and virtual reality [AR and VR] content.
VZ likely acquired Jaunt for a sharply reduced price to add to its burgeoning mobile AR/VR content efforts.
Target Company
San Mateo, California-based Jaunt was founded in 2013 and has developed the XR Cast technology that enables capturing and publishing of human forms in AR and VR content.
Management is headed by CEO Mitzi Reaugh, who has been with the firm since 2016 and was previously CEO and Co-Founder at GoodLooks.
