M&A Deal Summary

Snap Acquires NextMind

On March 23, 2022, Snap acquired business services company NextMind

Acquisition Highlights
  • This is Snap’s 1st transaction in the Business Services sector.
  • This is Snap’s 2nd transaction in France.

M&A Deal Summary
Date 2022-03-23
Target NextMind
Sector Business Services
Buyer(s) Snap
Deal Type Add-on Acquisition

Target

NextMind

Paris, France
NextMind uses electroencephalogram (EEG) technology to detect brain signals. Machine learning algorithms then translate those signals into digital commands. The company previously developed a non-invasive brain-computer interface technology to enable hands-free interaction with electronic devices, including computers and AR/VR headsets. NextMind was formed in 2017 and is based in Paris.

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Buyer(S) 1

Buyer

Snap

Santa Monica, California, United States
Category Company
Founded 2010
Sector Internet Software and Services
Employees5,289
Revenue 4.6B USD (2023)
DESCRIPTION
Snapchat's corporate headquarters in Venice, California.
Snapchat's corporate headquarters in Venice, California.

Snap is the developer of Snapchat, a camera application that was created to help people communicate through short videos and images. The Company calls each of those short videos or images a Snap. Snapchat opens directly into the Camera, making it easy to create a Snap and send it to friends. Snaps are deleted by default, so there is a lot less pressure to look pretty or perfect when creating and sending images on Snapchat. Snap offer lots of creative tools like lenses, geofilters, and bitmojis that allow its community to express themselves through Snaps. Lenses are interactive animations that are overlaid on a person’s face or the world around them. Geofilters are artistic filters that can be applied after a Snap is taken at pre-defined times and locations. Bitmojis are cartoon likenesses of a user that are created in the Bitmoji application. Snap was formed in 2010 and is based in Santa Monica, California.

DEAL STATS #
Overall 18 of 18
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 18 of 18
Country (France) 2 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-21 WaveOptics

Oxford, United Kingdom

WaveOptics is a provider of the augmented reality displays. The Company offers one-size-fits-all, our waveguides are readily customisable to meet the demands of any customer. WaveOptics was founded in 2014 and is based in Oxford, England.

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