Jaunt is in talks to sell its cinematic virtual reality business to other companies, VentureBeat has learned. One of the bidders is Spinview Global, the virtual reality business-to-business content management platform, according to a source familiar with the matter.
Jaunt recently said it would end its VR efforts and focus exclusively on augmented reality and extended reality (XR) technologies. A spokesman for San Mateo, California, confirmed that Jaunt is in talks with multiple parties to sell the VR business.
Jaunt still has a big VR film studio in Santa Monica, California, where it puts to use its expertise in telling stories in XR. In the past, it has launched more than 350 productions, including numerous virtual reality films. Jaunt has invested heavily in its camera hardware and VR player.
Spinview hopes to bolster its own VR offering as it moves into 2019. It also just purchased Agority, a VR communications app. Spinview is based in London and Stockholm.
This post by Dean Takahashi originally appeared on VentureBeat.