Verizon’s acquisition will include Jaunt’s volumetric capture and machine learning technology.
It’s been a rocky couple of months for Jaunt XR. Late last year the software development company conducted a series of layoffs to its staff as part of a transition from VR content to the development of AR technology with a focus on volumetric video capture. In November, the company began seeking buyers for its VR business and this past December company co-founder Arthur van Hoff announced his departure from the organization.
Today, Jaunt revealed the latest sale of company assets as part of a new acquisition by Verizon Communications Inc. Sold for an undisclosed amount, Verizon has purchased access to Jaunt’s software, technology, and various other assets, including volumetric video capture technology.
“We are thrilled with Verizon’s acquisition of Jaunt’s technology,” said Mitzi Reaugh, President & CEO of Jaunt XR, in an official release. “The Jaunt team has built leading-edge software and we are excited for its next chapter with Verizon.”
While speaking to The Verge, a spokesperson for Jaunt confirmed the company has sold “all” of its technology, but was unclear on whether or not the company would continue to operate independently. According to the release, Jaunt will spend a brief period of time assisting Verizon in familiarizing themselves with the technology.
Founded in 2013 in San Mateo, California, Jaunt has released a variety of cinematic VR content over a variety of platforms, including their own dedicated app. In 2015 – 2016, the company received a $64M investment from Disney. Since then the company has struggled to generate traction with users with its catalog of VR content.
Feature Image Credit: Jaunt XR