Apple Reportedly Buying Virtual Reality Company for $100 Million

BUSINESS TURKMENISTAN
Apple Reportedly Buying Virtual Reality Company for $100 Million
NextVR melds virtual reality with sports, music, and entertainment, offering VR experiences for watching live events on VR headsets. (Photo: NextVR)

American multinational technology company Apple Inc. is reportedly in the process of purchasing NextVR Inc., which specializes in creating virtual reality (VR) video content based on special events such as sports matches and musical performances, according to a new report from 9to5Mac website.

NextVR is a California-based company that melds virtual reality with sports, music, and entertainment, offering VR experiences for watching live events on VR headsets from PlayStation, HTC, Oculus, Google, Microsoft, and other manufacturers.

According to the report, the companies are still holding talks about the deal, which could be worth about $100 million. Apple may also want NextVR for its patented technologies. The company is said to hold more than 40 patents around VR and related technologies, including one that enables it to upscale live video streams.

NextVR has established partnerships with the NBA, Wimbledon, Fox Sports, the Moscow Ballet and more, according to the NextVR website.

Apple Inc., headquartered in Cupertino, California, is the world's largest technology company by revenue and one of the world's most valuable companies. The producer of iPhones reported over $260 billion in revenues last year.