Apple Buys VR Startup Spaces at Undisclosed Price

Aug 26, 2020

Spaces VR Startup Tech

Apple has quietly acquired a VR technology startup Spaces, a former project of DreamWorks Animation for an undisclosed amount.

“Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans,” a company spokesperson told Protocol via email.

Spaces announced last week that it was shutting down its existing services, telling visitors on its website that it was “heading in a new direction,” without revealing further details.

“Thank you to our users and partners who participated in our awesome VR video conferencing product and the many people who enjoyed our VR location-based entertainment attractions found at theme parks, theaters and more,” the statement said.

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Spaces spun out of DreamWorks Animation in early 2016, and developed a range of location-based VR experiences, including ‘Terminator Salvation: Fight for the Future’.

The company had to shut down its VR centers at the beginning of the Covid-19 pandemic, laying off several staff members.

Apple recently confirmed it has acquired NextVR, a live streaming AR/VR company.

Apple’s rumored augmented reality (AR) glasses are also under development and may launch by 2022.

The company is developing two head-worn products, including a combination AR/VR headset for release in 2022 and “full-fledged” AR glasses for release by 2023.