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Major Takeaways:

  • Apple has acquired AR app make Metaio; terms were not disclosed.
    • Metaio previous investors include Westcott LLC, and Atlantic Bridge, a Silicon Valley-based growth fund.
  • While this does give Apple a jump on rivals in the AR space, but products remain 18-24months away from delivery.
  • Previous Metaio uses include creating virtual product showrooms for retailers, as well as virtual product manuals for industrial or automotive clients.

Reuters reports on Apple’s acquisition of Metaio.

From the article:

Metaio’s previous investors included Westcott LLC, the investment vehicle of entrepreneur Carl Westcott, the founder of floral delivery firm 1-800-Flowers (FLWS.O), and Atlantic Bridge, a Silicon Valley-based growth equity technology fund.

A document filed with a Munich court showed that Apple is now the company’s sole shareholder.

Metaio’s augmented-reality software is used in applications in retail, industrial and automotive markets.

Metaio technology is used to create virtual product showrooms and by retailers such as IKEA [IKEA.UL]. It has also created visual manuals for repairing complex industrial or automotive equipment…

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, the analyst said.

This technology was co-developed with ST-Ericsson, the former joint venture between mobile network equipment maker Ericsson (ERICb.ST) and chipmaker STMicroelectronics (STM.PA).

Potential applications using Metaio’s low-power consumption technology could include mobile handsets and or smart-glasses, Sorrell speculated. In mobile phones, the Apple-Metaio combination could pose a challenge to current market leader Qualcomm (QCOM.O), which owns augmented reality maker Vuforia.

Head to Reuters for the full article.