Verizon buys VR and AR tech from Jaunt

Verizon has purchased Disney-backed XR company Jaunt in a move that will requite Verizon access to Jaunt's cutting border AR/VR software, applied science and other assets it's been developing since the company was founded dorsum in 2022.

In an official press release, Jaunt CEO Mitzi Reaugh said, "We are thrilled with Verizon's acquisition of Jaunt's technology." He added, "The Jaunt team has built leading-border software, and we are excited for its side by side chapter with Verizon."

The deal won't mean Jaunt will be taking the cash and so walking away. Instead, the company will be profitable Verizon with the transition of select portions of the companies software and technology for a brief period.

One of Jaunt's strengths is its ability to create and distribute scalable volumetric videos of humans. This could exist incredibly valuable for Verizon, and its 5G network since the visitor looks for newer ways to not but connect users of its network but also win over new subscribers.

A recent blog postal service on the Jaunt XR website appear the company's work on something they are calling XR Cast. The new tech lets users leverage 5G to stream AR content to friends and family, and even share a 3D video on social media. During a Philadelphia Eagles football game terminal year, attendees were able to demo XR Cast by being able to broadcast an AR prototype of themselves onto a miniature football game field and even create an AR trip the light fantastic party with other people, all in existent-time.

Last yr, it was appear that Verizon would be partnering with STRIVR to train employees beyond the U.South. on how to set for different robbery scenarios, through VR. There's no word on how Verizon'south acquirement of Jaunt will affect the future of Verizon and STRIVR's training partnership. Yet, it will surely have some impact.

This conquering comes on the heels of some tough times for Verizon. The company laid off seven% of the Verizon Media Grouping back in January, and in 2022, had to take a $4.6 billion write-down on their media business concern due to poor functioning.

Obtaining Jaunts XR engineering could give Verizon a much-needed boost of good news.

Jaunt was founded in 2022 and established themselves as a leader in AR/VR tech. They created tools and apps that gave brands and consumers the ability to create their ain VR content. They too raised $100 1000000 in funding through Disney, Google's GV, and Redpoint Ventures. Jaunt even made the CNBC Disruptors Listing in 2022.

For more information, see the offical Jaunt press release here.

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