Apple acquires Germany-based augmented reality company Metaio
30 May 2015
Apple Inc has acquired privately-held Germany-based augmented reality company Metaio, for an undisclosed sum.
Apple has not yet disclosed the transaction, but documents filed on 22 May with the German states Common Register website reveals that Apple has acquired the Munich-based company.
Founded in 2003 by current CEO, Thomas Alt and current CTO, Peter Meier, Metaio provides a software development kit (SDK) for programming PC, web, mobile and custom offline augmented reality applications.
The company came into the limelight when it executed an internal project for German car maker Volkswagen and now has a large base of developers, 1,000 customers and 150,000 global users in 30 countries.
Metaio has not raised funds from investors like many of the Silicon Valley start-ups have, but its earlier investors include Atlantic Bridge - a growth equity technology fund and Westcott - the investment arm of entrepreneur Carl Westcott.
Its technology allows people wearing an eyewear like Google Glass, which makes real world surface into a virtual touch screen.
Reuters citing Steffen Sorrell, an analyst with technology market research firm Juniper Research, said Apple, which builds custom computer chips it uses in a range of products, could incorporate Metaio's intellectual property to differentiate its products.
This could give Apple a jump on rivals who are working to develop augmented reality semiconductors but remain at least 18 to 24 months away from delivery, he added.
