Apple Prepares to Take Over Virtual Reality Firm NextVR for $ 100 Million

Cupertino-based tech giant Apple is planning to acquire California-based virtual reality company NextVR in a deal said to be worth $100 million, the media reported. NextVR is a company that melds VR with sports, music, and entertainment, offering VR experiences for watching live events on VR headsets from PlayStation, HTC, Oculus, Google, Microsoft, and other manufacturers, reports MacRumors.

According to the NextVR website, the company has established partnerships with the NBA, Wimbledon, Fox Sports, WWE and more. The California-based company has been struggling in recent years, leading to a 40 percent staff reduction recently.

Though iPhone maker has not yet disclosed the acquisition sum, the NextVR employees have been told that they will need to relocate from Southern California to Cupertino. Apple's rumoured augmented reality (AR) glasses are also under development and may launch by 2022. The company is developing two head-worn products, including a combination AR/VR headset for release in 2022 and "full-fledged" AR glasses for release by 2023.

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