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HomeStock MarketGoogle buys startup Raxium for future AR, MR devices: report (NASDAQ:GOOGL)

Google buys startup Raxium for future AR, MR devices: report (NASDAQ:GOOGL)

Google Announces EUR 1 Billion Investment In Germany, Including Renewable Energies

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Alphabet’s (GOOG, GOOGL) Google unit has agreed to a deal to buy Raxium, a startup that develops light-emitting diodes for augmented and mixed reality devices, according to The Information.

The news outlet, which first reported on the pending deal, noted that the acquisition could be a sign that Google (GOOG, GOOGL) wants to own more components of devices it builds.

The purchase price of the deal was not reported and Google (GOOG, GOOGL) did not immediately respond to a request for comment from Seeking Alpha.

Alphabet (GOOG, GOOGL) shares rose nearly 2% to $2,640.56 in late-day trading on Wednesday.

Two of Google’s largest competitors, Apple (NASDAQ:AAPL) and Meta Platforms (NASDAQ:FB) are reportedly developing or developing their own augmented reality headsets.

Earlier this year, it was reported that Apple (AAPL) was already working on a second-generation version of its AR headset, which could be released in 2024.

Google (GOOG, GOOGL) recently announced its intention to acquire cyber security firm Mandiant (NASDAQ:MNDT) in a deal valued at $5.4 billion.

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