Verizon has acquired the software, technology and other assets of Disney-backed augmented and virtual reality startup Jaunt XR. Terms of the acquisition haven’t been disclosed, but the acquisition is likely going to be the final chapter in Jaunt’s story.
“Jaunt will be assisting Verizon with the transition of select portions of the software and technology for a brief period of time,” the startup declared in an announcement Monday morning.
Jaunt had raised more than $100 million in funding, with backers including Disney, Evolution Media Partners and China Media Capital (CMC). The company initially developed a $100,000 professional 3D VR camera, and later refocused to become a distribution platform for professional VR content.
As part of its focus on media, Jaunt at one point opened up a studio space in Los Angeles, and hired former Hearst exec George Kliavkoff as its CEO. However, Kliavkoff left last year, and Jaunt laid off a significant portion of its staff last October.
At the time, Jaunt also refocused on augmented reality and volumetric video capture.
“We are thrilled with Verizon’s acquisition of Jaunt’s technology,” said Jaunt president and CEO Mitzi Reaugh, Monday. “The Jaunt team has built leading-edge software and we are excited for its next chapter with Verizon.”