Snap is acquiring the wave optics startup
Snap acquires AR startup WaveOptics, which provides tech for Spectacles, for over $500M Ingrid Lunden @ingridlunden / 2:30 PM GMT • May 21, 2021 Image Credits: Snap Snap yesterday announced the latest iteration of its Spectacles augmented reality glasses , and today the company revealed a bit more news: it is also acquiring the startup that supplied the technology that helps power them. The Snapchat parent is snapping up WaveOptics , an AR startup that makes the waveguides and projectors used in AR glasses. These overlay virtual images on top of the views of the real world someone wearing the glasses can see, and Snap worked with WaveOptics to build its latest version of Spectacles. The deal was first reported by The Verge , and a spokesperson for Snap directly confirmed the details to TechCrunch. Snap is paying over $500 million for the startup, in a cash-and-stock deal. The first half of that will be coming in the form of stock when the deal officially closes, and the rem