Apple Acquires Mira: Here's What's Going On

Thursday - June 8 2023, 08:58 UTC - 1 year ago

On June 8, 2023, Apple confirmed its acquisition of Mira, a Los Angeles-based maker of light hardware for augmented reality, with a main focus on industrial applications. The acquisition, which was not publicized by Apple but revealed through an Instagram post, speaks volumes about the future of Apple's entrance into the mixed reality space, as well as the technology that Mira brings to the table. Mira also has existing military contracts on its order book, which will need to be dealt with before full consumer utilization can commence.

Right on the heels of unveiling its Vision Pro mixed reality headset, Apple has now confirmed that it has acquired Mira, a Los Angeles-based maker of light hardware for augmented reality, The Verge reported.

The Worldwide Developers Conference had unveiled Apple's plans for its future as it revealed a string of devices powered by 'homegrown' chips and the much-awaited foray into the mixed reality space. Until then, Mark Zuckerberg's Meta was the sole big name betting big on the digital world. Meta had even tried to upset Apple's big announcement by launching its Quest 3 mixed reality headset last week.

What will Mira's acquisition bring? Even for the small market that augmented reality(AR) currently is, Mira is a small player. Unlike other players in the space that have tried to reach out to the public at large, Mira has focused its technology on industrial applications.

The acquisition made for an undisclosed amount was not even publicized by Apple but ended up being revealed by the founder and CEO Ben Taft's private post on Instagram. Apple later confirmed the acquisition to The Verge with a boilerplate statement, "Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans." Funding-wise too, the company had managed to raise $17 million in the seven years of its existence before being acquired, a droplet compared to the billions Meta has poured in the past couple of years.

The question really is, what does Mira bring to the table for Apple? The answer lies in the headset being used for the Mario Kart Ride at Nintendo World at theme parks in Japan and Universal Studios in Los Angeles. The lightweight headset can augment characters and game paraphernalia as you progress in the ride, which big names in the tech industry have struggled to achieve so far.

Apple could also be looking at this technology to beat Meta's dominance in the market. Like it does with the SE range of iPhones, Apple could unveil a lower-cost AR headset in the future to take on the comparatively lower-priced offerings from Meta.

What about Mira's military commitments? Alongside serving theme parks and heavy industries, Mira has also military contracts on its order book. According to The Verge's report, The U.S. Navy has awarded it a $700,000 contract, while another agreement is set in stone with the U.S. Air Force. Mira's AR headsets will be used to showcase information on heads-up displays for Air Force pilots.

This is not surprising, since tech giants like Microsoft turned to the military to find utility for its HoloLens headsets, which were a dud in consumer markets. However, given Apple's track record of not working on military projects, Mira would likely have to forgo those contracts and focus on the consumer segment.

With Apple's design teams guiding them, Mira's staff will hardly complain about past customers and will be keen to build a new future in spatial computing.