Snap, which recently unveiled its fourth-generation Spectacles augmented reality glasses, has announced that it will acquire WaveOptics. The acquisition of the British augmented reality technology developer will cost Snap more than $ 500 million.
The deal is expected to help the owner of a mobile messaging application with attached photos and videos prepare for a possible market development in which augmented reality glasses will become a device for everyday use.
Snap and other tech giants including Facebook and Apple are looking to bring augmented reality headsets as the next frontier after smartphones.
Snap is expected to pay half of the above amount immediately, and the other half will be paid in cash or stock in two years.
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