Home Business Verizon acquires Jaunt XR, an Augmented Reality company

Verizon acquires Jaunt XR, an Augmented Reality company

Jaunt XR an augmented reality company is taken over by Verizon Communication for an undisclosed amount, announced Jaunt on September 30. Verizon has acquired all software and technology as well as “certain other assets.” Jaunt did not confirm whether it will be working separately or not.

Mitzi Reaugh, President and CEO of Jaunt’s technology said, “We are thrilled with Verizon’s acquisition of Jaunt’s technology,” said Mitzi Reaugh, President & CEO of Jaunt XR… The Jaunt team has built leading-edge software and we are excited for its next chapter with Verizon.”

Jaunt was set up in 2013 to create VR video. Earlier Jaunt’s focus area was the creation of 360-degree camera and VR video production. Jaunt shifted to Augmented Reality in 2018. Oculus, Vive, PlayStation VR are apps developed by Jaunt. They work on Android as well as iOS.

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Verizon acquires Jaunt XR, an Augmented Reality company
Verizon acquires Jaunt XR, an Augmented Reality company

Verizon has been in the business of production of VR and AR videos. RYOT a VR company was acquired by Verizon in 2016. RYOT has created AR advertising for Verizon. A RYOT innovation studio was also developed by Verizon in 2018 to present Verizon’s 5G network speed.

According to the press release Jaunt’s specialty as “the scalable creation and distribution of a volumetric video of humans.” This might have attracted Verizon to acquire it. A new system called AR Cast was developed by Jaunt in 2018. AR Cast live-streams hologram-like 3D video of football fans over a 5G network.

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It is not still clear whether the Verizon has also acquired the patent portfolio of Jaunt. According to Lori Lefevre Wells, Jaunt’s spokesperson, “all” software and technology is sold to Verizon. “Jaunt will be assisting Verizon with the transition of select portions of the software and technology for a brief period of time… We can’t comment on whether the company will continue,” said Wells.

Swati Joshi
Journalist in making. An avid traveler and reader, highly opinionated. Belongs to Dehradun, studying in Mumbai. Technically sound. You can connect with her via social media.

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