Blippar, the Qualcomm-backed developer of an image recognition platform for mobile devices, has acquired Netherlands-based Layar, a developer of augmented reality (AR) technology, for an undisclosed amount, TechCrunch reported yesterday, citing an undisclosed memo from Blippar CEO Ambarish Mitra.
The purchase granted an exit to Intel Capital, semiconductor maker Intel’s corporate venturing unit, which led $14m in Layar’s 2010 series B round, as well as Sunstone Capital and Prime Ventures, the investors in both the series B and a $3.4m series A round earlier that year.
The memo stated that the purpose of a merger would be to form an integrated AR company that could pool publisher relationships and compete against more prominent rivals in the space.
Qualcomm invested an undisclosed amount in Blippar’s 2012 seed round, but the company has not revealed any additional funding since that time.