Market Chatter: Snap Acquires Augmented Reality Firm Illumix

MT Newswires Live06-05

Snap (SNAP) has acquired spatial augmented reality firm Illumix, as the parent company of Snapchat looks to boost its AR efforts, Variety reported Thursday.

Under the terms of the deal, Snap will use Illumix's technology and platform toward its revamped Specs glasses, and will retain most of Illumix's staff, the report said.

Financial details related to the acquisition were not disclosed, according to the report.

Snap did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 6.11, Change: +0.38, Percent Change: +6.63

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