Goertek, Robert Bosch and Blippar are exiting the diffractive waveguide producer in a cash-and-share purchase by Snap.

Messaging app developer Snap is acquiring US-based augmented reality (AR) technology provider WaveOptics for over $500m, allowing corporates Goertek, Robert Bosch and Blippar to exit, The Verge reported on Friday.

The transaction will consist of cash and shares, with Snap paying half upfront and the rest in two years’ time, the company told CNBC.

WaveOptics develops and produces diffractive waveguides, a key optical component in AR systems that allows images to be overlayed on to a solid transparent surface such…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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