Apple essentially confirmed the deal, offering the standard statement it gives when it buys companies, reported Axios.com.
"Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans," Apple was quoted as saying.
Apple also unveiled its new ARKit platform at its annual Worldwide Developers Conference earlier this month to allow developers to build new apps that could place virtual content on top of real-world scenes.
Given Apple's increasing focus on augmented reality applications, this acquisition could help it further develop software for future versions of the iPhone or other devices.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.