Wednesday, June 21, 2017

Samsung reportedly acquired VR app studio VRB for $5.5 million

It’s no secret that Samsung is very serious about its position in the virtual reality market. The company already has a great suite of products that enable users to experience virtual reality. It has also been inking new partnerships to bring more content to its VR platform.

That’s not all the company is working on in this space. According to a new report, Samsung has acquired VRB rather quietly. VRB is a startup based in New York that has already developed apps for capturing and viewing 360-degree virtual reality content. The scribe’s sources suggest that Samsung paid $5.5 million for this company.

No official statement has been released by Samsung or VRB to confirm the acquisition. One of the co-founders of the company, Chrisopher Paretti confirmed the sale to TechCrunch, adding that “VRB was acquired by Samsung, but the deal amount will remain undisclosed.”

The report is light on details concerning Samsung’s vision for this company and what it intends to do with its talent and technology to further expand its influence in the virtual reality space.

This appears to be the first VR-focused startup that Samsung has acquired, or may just be the first one that has been reported on, but it’s quite likely that we may see more of such acquisitions from Samsung in the future.