Apple has recently confirmed that it has acquired NextVR, which is a virtual reality startup that specializes in recording live events such as sports matches and concerts for  VR experience. The announcement made by the company came after the purchase was first reported at the beginning of April.

The website of NextVR had also been changed stating that it is heading towards a new direction, thanking its partners across the world for the role they have played in creating a platform for music, entertainment and sports experience in virtual reality. The company is going to shut down, indicating that it is entirely being absorbed into Apple.

Both NextVR and Apple had not confirmed the news for several weeks after the initial report. Apple, however, has refused to disclose the financial terms of the acquisition deal.

According to reliable sources, it has been unclear as to how Apple shall use the technology that NextVR has created but the firm has been working on augmented reality glasses along with a certain type of headset. Either one of these components or both may have a VR component that is similar to the HoloLens, the Magic Leap One and Window Mixed Reality devices.

It also features the Apple TV Plus by providing with an app to stream the live event content that is captured by the cameras by NextVR as well as its smartphones and several other screens getting paired up with VR and AR devices.

NextVR has secured over $115 million over the past few years. It had been founded in the year 2009 before the modern VR had been initiated by Oculus VR, owned by Facebook, which has a record-breaking Kickstarter campaign in the year 2012. NextVR had been founded for capturing and compressing the video to experience it in 360 degrees despite the kind of device it would have been viewed on.

Source Credit- https://www.theverge.com/2020/5/14/21211254/apple-confirms-nextvr-acquisition-purchase-vr-virtual-reality-company