Snap, the parent company of Snapchat, has hardware ambitions. That is something which is known to all. The company’s first hardware product, Spectacles, may not have performed as well as it might have hoped but that doesn’t mean Snap is going to give up on these ambitions. If a new report is believed, Snap may have acquired a drone maker, and if that’s true it gives us a hint of what to expect from the company.
Buzzfeed News reports that Snap has acquired Ctrl Me Robotics. It’s a small drone maker that’s based in Los Angeles, California. The report even says that this was a cheap deal for Snap as the company’s purchase price was under $1 million.
It has been rumored for quite some time now that Snap is interested in drones and that its next hardware product might be a drone of some sort. This acquisition goes to show that Snap may not have just a passing interest in drones and that this is something it might be thinking about seriously.
It’s claimed that Ctrl Me Robotics was actually in the process of winding down when it approached Snap for a possible deal. Sources familiar with the deal tell Buzzfeed News that the transaction amount was less than $1 million.
Full Content: Buzzfeed
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DOJ and FTC Introduce Website for Reporting Anti-Competitive Healthcare Practices
Apr 18, 2024 by
CPI
US Congress Advances Legislation to Compel TikTok Sale
Apr 18, 2024 by
CPI
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI