Verizon is Acquiring Assets From This Disney-backed Virtual Reality Company

Wall Street learned on Monday that Verizon Communications is acquiring all software and technology, as well as “certain other assets” from startup virtual reality firm Jaunt XR.

There was no actual word on whether or not Verizon was acquiring the company or if Jaunt would continue to operate separately. The amount of the deal was undisclosed.

Founded in 2013, California-based Jaunt XR had released a 360-degree camera and worked on some of the best-known early VR video productions. It was late last year that the company moved to augmented reality or AR.

Jaunt spokesperson Lori Lefevre Wells confirmed that “all” Jaunt software and technology is being sold to Verizon. A press release says that “Jaunt will be assisting Verizon with the transition of select portions of the software and technology for a brief period of time.” Lefevre declined to confirm on whether Jaunt will still exist after the deal.

“We are thrilled with Verizon’s acquisition of Jaunt’s technology,” said Jaunt XR CEO Mitzi Reaugh in a statement. “The Jaunt team has built leading-edge software and we are excited for its next chapter with Verizon.”

Jaunt has raised about $100 million in funding from Disney, Google’s venture arm GV and Redpoint Ventures, among others.

Disclaimer: We have no position in Verizon Communications Inc. (NYSE: VZ) nor Walt Disney Co. (NYSE: DIS) and have not been compensated for this article.