Snap Inc. (NYSE: SNAP) has acquired augmented reality company Illumix as it expands development of its next-generation AR ecosystem and smart glasses platform. Illumix brings expertise in spatial mapping and real-world augmented reality experiences that Snap believes can enhance its Specs wearable technology initiative. The acquisition follows strong first-quarter results that included 12% revenue growth and a 5% increase in daily active users to 483 million. Snap continues to position augmented reality as a long-term growth driver, describing smart glasses as the next major computing platform after smartphones.
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