NextVR’s Acquisition by Apple Confirmed

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Last month reports circulated that Apple was in the process of purchasing virtual reality (VR) content broadcaster NextVR. That’s now been confirmed with the company closing down its website.

NextVR

The acquisition has been confirmed by Bloomberg, but no purchase price has been confirmed as Apple tends not to discuss those details. It’s been separately reported that the value is around $ 100 million USD.

The NextVR website only contains a statement saying: “NextVR is heading in a new direction. Thank you to our partners and fans around the world for the role you played in building this awesome platform for sports, music and entertainment experiences in Virtual Reality.”

NextVR was most well known for its immersive sports broadcasts, teaming up with the likes of the NBA, NHL, Fox Sports and the International Champions Cup, as well as live music and other events. These would allow viewers to watch 360-degree video usually from prime angles such as courtside seats on a variety of VR headsets. What’s immediately noticeable is the fact that the NextVR app is nowhere to be found, disappearing from the Oculus Store and Steam.

NextVR

Quite where this new direction will head is unknown as NextVR was a specialist company, but the acquisition does highlight Apple’s continued interest in the VR space. The tech giant also has a strong focus in augmented reality (AR), so perhaps live events taking place on your table may be a possibility.

Crunchbase details how NextVR previously secured $ 115.5 million investment across three funding rounds, the last one in 2016. In 2019 a Series C round failed which led to a 40 percent reduction in staff.

VRFocus will continue its coverage of NextVR now that Apple has secured its future, reporting back with the latest updates.

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