Google Rumored To Drop $40 Million On VR Company Lytro
A big deal is going down in the tech world with multiple sources claiming that Google is set to acquire Lytro. Lytro is the company that first started out way back in 2011 a the camera that allowed users to refocus on anything in the image frame. Eventually, Lytro morphed into a company that specializes in depth-data, light-field technology for VR (Virtual Reality) applications.
The rumored deal comes after Google unveiled an app that uses multi-camera techniques to capture immersive photography. It would make sense that Google would want to acquire Lytro since that is exactly where the the company's expertise lies.
One of the sources cited by TechCrunch says that the $40 million deal is an asset sale, while another sources pegs the deal at $25 million. Yet another source cited says that not all the employees of Lytro will be migrating to Google. Some of the current Lytro workers have already been given severance packages and let go to find new work while other workers have simply left the company.
The deal is seemingly more for the 59 patents that Lytro holds that are related to digital imaging technology and light-field tech specifically. If the sources are correct, Lytro and its backers aren’t exactly making out like bandits even at the rumored $40 million price. Lytro has raised a bit over $200 million in funding so far and was valued at over about $360 million in 2017. There have been no official statements from any investors, Lytro, or Google on the rumored deal.