Niantic is the AR platform that powers Pokemon GO, is acquiring WebAR development platform 8th Wall, the company announced on Thursday. The details of the deal’s financials are not publicized. Niantic claims that the deal is the company’s largest deal to date. Niantic says that the acquisition will improve its developer platform, while aiding developers in creating their own visions for AR.
In 2016, the company was founded. 8th Wall currently supports billions of devices worldwide which includes 5 billion smartphones on iOS and Android as well as laptops as well as AR/VR headsets Niantic claims. The company’s platform has been utilized to develop AR activations for a variety of organizations such as Netflix, Microsoft, Universal Pictures and many more.
“From the beginning, Niantic set out to build AR technology that enables people to connect to others, discover new places, and play with friends in the real world,” Niantic stated in the blog announcement regarding the announcement. “To achieve this we’re blending the physical and digital by creating the most accurate 3D map of the globe. Thanks to Lightship, our Lightship platform, which we launched worldwide in November of this year, we’re providing every developer the world’s most interactive canvas that allows their designs to life on an enormous scale. 8th Wall greatly complements our concept for Lightship and we’re looking to further expand the tools available to developers on our platform using their tried and tested WebAR technologies.”
A blog article regarding the acquisition, 8th Wall founder and CEO Erik Murphy-Chutorian explained that, by the acquisition of Niantic, 8th Wall will be able create additional tools for creating captivating AR experiences that inspire users to explore new locations.
“We started 8th Wall to build powerful computer vision technology that would enable developers to create AR applications that could run everywhere seamlessly,” Murphy-Chutorian stated. “We created this using the complete set of tools that allow for the creation of WebAR. There is a lot of potential for web-based augmented realities and we’ll continue to discover this by utilizing Niantic’s world-class AR universe. We are excited to continue cooperating with Niantic to develop the most effective platforms that can create an even more fantastical shared experience.”
The deal comes just a few weeks after Niantic acquired 300 millions from Coatue which valued Niantic to be worth $9 billion. The company intends to make use of the money to construct”the “real-world metaverse.”
Pokemon GO, perhaps the most well-known project, has proven to be profitable with over 1 billion dollars during 2020. This is according to the app company for analytics Sensor Tower. However, not all Games from the company have proven to be popular The company has recently announced that it would stop production of Harry Potter: Wizards Unite following a drop in consumer spending and global downloads fell 57% from year to year.