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GoPro buys virtual reality firm Kolor
[NEW YORK] The company that makes the popular GoPro cameras announced plans Tuesday to buy Kolor, a French-based firm specializing in virtual reality and other video technologies.
Kolor is known for "spherical media" technology which enables video and television images to be displayed on a globe-like device.
Terms of the deal were not disclosed.
Kolor employees will join GoPro and will maintain operations at their headquarters in Savoie, France, according to a statement from California-based GoPro.
Kolor has been part of an alliance aimed at developing future television technologies that give viewers a panoramic or virtual reality perspective. Some of those images were displayed at this year's Consumer Electronics Show in Las Vegas.
It uses "image-stitching" technology to combine multiple photographs or videos to produce high-resolution panoramic or spherical content that can be shown on a variety of devices or screens.
The companies said in a statement that spherical media "enables a range of immersive viewing experiences and is an essential building block of virtual reality, a technology poised to transform entertainment, education and other industries."
"We are excited to welcome Kolor to GoPro," said Nicholas Woodman, GoPro's founder and chief executive.
"GoPro's capture devices and Kolor's software will combine to deliver exciting and highly accessible solutions for capturing, creating and sharing spherical content." GoPro, which had a stock offering in 2014, makes cameras that have become common among people involved in extreme sports and routine athletic outings, and have even been used by emergency or disaster workers.
GoPro cameras designed to survive the elements have been used to capture action or adventures ranging from marriage proposals to African safaris to bungie jumping.