Verizon Communications Inc. (NYSE:VZ) has announced the takeover of Jaunt XR. The deal gives volumetric video capture tools to Verizon. The new technology and software of Jaunt provide an advantage to Verizon because it forays into a high-speed 5G network. Jaunt has restructured and laid off some staff before focusing on augmented reality from virtual reality in less than a year.
Jaunt acquires Teleporter
Jaunt earlier has purchased Teleporter, a volumetric 3D video streaming software. The company’s role in VR Works is well demonstrated and notable. In last fall, Jaunt also showed 360-degree human capturing tools as it pivoted into AR streaming. The company planned to divest its VR business in November 2018. Arthur Van Hoff, the founder of Jaunt, left the company and joined Apple in April 2019.
Jaunt used machine learning in 2018 to establish its footprint in the distribution and creation of volumetric videos of people. Machine learning helps to convert the multi-camera feeds of humans into 3D avatars for viewing on multiple devices. The technology allows creating holographic representations of celebrities, athletes, and other VIPs to make them believe that they are real. They can be used for mass viewing simultaneously or one to one conversation.
To cooperate for a smooth transition
Mitzi Reaugh, Chief Executive Officer of Jaunt, said the company is pleased with the takeover of its software and technology by Verizon. Its team has put in considerable effort to develop cutting edge software, and the next chapter would begin with Verizon. The company would cooperate with Verizon for the smooth transition of technology and software albeit for individual portions.
Verizon wins big in 5G world
Wireless companies are hoping to beam into the homes without spending lots of money for laying optical fiber cables. The new technology allows consumers to switch ON their routers and enjoy 8K streaming videos. They can also run the software and the like with no need to install expensive optical fiber cables thanks to advancements in technology.
The 5G wireless would change the lives of people in the US. It will also influence businesses. Chief Executive Officer of Verizon, Ronan Dunne, said at an investor conference that the company would introduce the fixed wireless service – 5G Home in locations wherever the innovative wireless standards are deployed. According to an announcement on April 2019, Verizon would implement 5G in Minneapolis and Chicago.