- Briefing Your roundup of Asian tech and startup news that matter
Samreen Ahmad · · 1 min readByteDance in talks to buy Chinese VR headset maker
“ByteDance is in discussions to acquire Pico, a Chinese maker of virtual reality (VR) headsets, as it seeks new drivers for growth,” reported Bloomberg, citing a person familiar with the matter.
Details:
- Founded in 2015, Beijing-based Pico employs more than 300 employees and sells its VR headsets to businesses globally and to consumers in Asia.
- A Pandaily report pegged the deal size at US$771 million.
Dive deeper:
- With this deal, ByteDance will be joining an already crowded VR headset market dominated by Facebook’s Oculus Quest.
- Apple is also expected to release a rival VR device as early as next year.
Editing by Collin Furtado and Eileen C. Ang
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
