The company neither shed light on the fact whether it would keep operating separately after the completion of the deal.
Founded in 2013, Jaunt XR focuses on the scalable creation and distribution of volumetric video of humans. It raised around $100 million over the years in venture funding from Redpoint and TPG. Here’s what the release said: “Jaunt XR today announced the acquisition of its software, technology, and certain other assets by Verizon Communications Inc. for an undisclosed amount.” So it seems Verizon didn’t acquire the whole of its business.
Mitzi Reaugh, President & CEO of Jaunt XR also added that the team is “excited for its next chapter with Verizon.”
For some time, Jaunt said it will be assisting Verizon with the transition of select portions of the software and technology.