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Google Might Be Buying This Camera Tech Maker for $40 Million

March 21, 2018, 2:37 PM UTC
Google Plans To Expand NYC "Campus" With $2.4 Billion Real Estate Purchase
NEW YORK, NY - MARCH 05: Google's New York office is shown in lower Manhattan on March 5, 2018 in New York City. Published reports say that the tech giant is close to a reaching a $2.4 billion deal to buy the landmark Chelsea Market building. The building, a block-long former Nabisco factory that is named after its ground-floor gourmet food mall, sits directly across from Google's current New York City headquarters in the Meatpacking District. If the sale goes through, it would be one of the most expensive real estate transactions for a single building in New York City history. (Photo by Spencer Platt/Getty Images)
Spencer Platt—Getty Images

Google is reportedly planning to purchase imaging startup Lytro in a deal estimated to be worth between $25 and $40 million.

Founded in 2006, Lytro is behind a series of cameras, which allow customers to capture “all the rays of light within a scene” giving them the ability to refocus shots after they were taken and offered “unprecedented control over focus, perspective, aperture and shutter angle.”

One source described the deal as an “asset sale” to TechCrunch, in which not all of the company’s employees will be joining Google (GOOGL) after the transaction is complete. Several employees have reportedly already received severance and parted ways with the company.

Lytro has raised over $200 million since its launch and was valued at $360 million after its last round of investment in 2017. Thus, a sale at the reported rate would suggest Google is getting the company for a significant discount.

The company is backed by a number of high-profile investors including Andreessen Horowitz, Foxconn, GV, Greylock, and Qualcomm Ventures.