It looks like Jaunts transition from VR to volumetric acquisition services has paid off for augmented reality experiences.
This is because Verizon has now acquired the company for an undisclosed amount, as Jaunt announced on Monday.
] "We are excited about Verizon's acquisition of Jaunt technology," said Mitzi Reaugh, president and CEO of Jaunt XR, in a statement. "The Jaunt team has developed state-of-the-art software, and we look forward to the next chapter with Verizon."
Since Jaunt was founded in 2013, it has made a name for itself with its VR content services. This was the case until last October when, less than two months after the launch of its 3D content capture service, the company announced its decision to fire its VR services and staff. Among the victims of the change in business model were co-founder and CTO Arthur van Hoff (now an Apple employee), whose term as CTO ended in October 2018, although he remained on board in advisory capacity until the end of 2008.
The pivotal point was Reaugh's first important decision, which took over the position of CEO on October 1, 2018 – almost a year to the day Verizon announced its acquisition of the company. Depending on the value of the acquisition, the decision to abandon VR and focus on AR services could make the backers, including Disney and Google, very happy.
Aside from the business decisions at Jaunt, the acquisition represents the latest AR weapon in the upcoming 5G wars between It is expected that enabling Augmented Augmented Reality experiences is a major benefit of the proliferation of 5G networks, with Verizon and AT & T being the main proponents of the role of AR in the 5G era ,
In addition to Jaunt, Verizon has set up its own AR / VR arm, Envrmnt, which includes the AR development tool AR Designer. Earlier this year, Verizon participated in a $ 28 million round of financing for the AR display manufacturer Light Field Lab. Yahoo subsidiary also began hosting AR content through its news app.
Meanwhile, AT & T has placed most of its AR eggs in the Magic Leap basket. In 2017, AT & T made a strategic investment in Magic Leap, which included a partnership between the companies. Since then, AT & T has begun selling Magic Leap One on its website, gaining marketing experience with the device, and sponsoring Hack-a-Thons using the headset's spatial computing capabilities. Investors will benefit from the benefits. As a result, investors are likely to continue to see AR as a solid investment project, meaning more funding for the AR industry and more innovation. In other words, anyone who seeks to develop AR should also cheer for 5G.