Snap Scoops Up WaveOptics

The UK-based company provided the AR display technology in its next-generation Spectacles


Snap Inc. liked the augmented reality display technology used in its next-generation Spectacles camera sunglasses so much that it bought the company behind it.

Snapchat’s parent company confirmed its acquisition of WaveOptics for more than $500 million, with roughly one-half to be paid in Snap stock when the deal closes and the remainder in either cash or stock two years afterward.

U.K.-based WaveOptics is best known for waveguides, a display technology that enables virtual objects to be overlaid onto the real world via a transparent, glass-like surface and light projectors, and that technology is powering the AR display capabilities in the new Spectacles.

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