Snap to acquire WaveOptics for $500m.

Snap, an American camera and social media company, agreed to acquire WaveOptics, a maker of optical systems for augmented-reality headsets, for $500m. For Snap, the purchase scoops up the maker of a key component for AR glasses in a nascent but quickly growing industry. WaveOptics will continue to supply other companies with its waveguides and work with Snap on custom optical systems.