Apple acquires B2B AR startup Mira

A day after Apple unveiled its first-generation MR headset, Vision Pro, the world's largest company by market value made another acquisition by buying AR startup Mira.

Bloomberg data shows that Apple has completed the acquisition of Mira Labs from sellers, including US venture capital fund Sequoia Capital and BrandProject. The exact investment was not disclosed.

The Verge quoted Apple's statement saying that Apple buys smaller technology companies from time to time and generally does not discuss their purpose or plans.

According to Mira's website, the startup provides AR headsets for industrial applications, such as chemical and steel manufacturing, for customers to improve performance, oversight, and safety. Additionally, The Verge quoted official US records reporting that Mira signed agreements with the US Air Force and Navy.

The acquisition of Mira is the second investment that Apple has made since 2023. According to Bloomberg data, during Tim Cook's tenure as CEO, Apple has been increasing its investments and acquisitions. Among the 118 investments and acquisitions since 1987, nearly 100 happened after 2011 when Tim Cook became the CEO of Apple.

CNBC reported that Cook told shareholders in 2021 that Apple had bought about 100 companies between 2015 and 2021. The report said that Apple's strategy is to buy small companies to get talents on board by "acquihire."

The acquisition of Mira, a B2B AR headset developer, may imply that Apple, with Vision Pro priced at US$3,499, will focus more on the enterprise MR segment than the mass market, at least for the foreseeable future.

Source: Bloomberg, June 2023