Apple has set its sights on the burgeoning augmented reality space with the acquisition of Metaio, a company that is an offshoot of an R&D project at Volkswagen.
Metaio’s technology – which has been used by BMW, Macy’s, Ferrari and Ikea – enables brands to provide consumers with realistic experiences of products they may be considering purchasing.
Its main product, Metaio Creator, is an authoring tool that allows for quick and easy creation and deployment of augmented reality scenarios.
Investors in Metaio include Wescott and Atlantic Bridge Capital, the US$450m fund that has offices in Dublin, London, Silicon Valley, Beijing and Hong Kong.
Apple is understood to have paid around €29m for the company in a transfer of shares.
It is understood that Metaio has stopped taking new customers and earlier this month cancelled a user conference in San Francisco, according to TechCrunch.
The company’s website says that its products and services are no longer available for purchase and that email support will continue until 30 June.
— Magdalena Rogl (@LenaRogl) May 28, 2015
Buy your tickets now!