Snap buys WaveOptics, the display maker of SPS 2021 Spectacles

Yesterday Snap Inc, the parent company of Snapchat announced its latest generation of Spectacles, the SPS 2021. Now the company has announced that it is acquiring WaveOptics, the manufacturer of the augmented reality displays that power its newest Spectacles for $500 million. The deal is the company's largest-ever and a testament to Snap's long-term goal to push its way into a future where AR eyewear could go mainstream and be ubiquitous. Fifty percent of the deal amount will be paid in stock at closing and the rest will be paid in either cash or stock after two years.