Earlier this year, the team behind AltspaceVR hit a financial roadblock. At the time, the developers were preparing to shut down entirely, but it seems Microsoft stepped in at the final hour with an acquisition offer instead, saving the social VR company from going under.

AltspaceVR announced that it would be closing down back in August after struggling to find new investors. At the time, Oculus founder, Palmer Luckey, tweeted out asking his followers if he should acquire the company outright and save them. However, it seems Microsoft ended up beating him to it. The acquisition was announced last night, during Microsoft’s Mixed Reality event, indicating that AltspaceVR will be part of Microsoft’s big strategy for mixed reality on Windows 10.

AltspaceVR will retain its name/brand under Microsoft. In a statement, the AltspaceVR team added that “Microsoft is most interested in preserving the current community” that uses the app. With that in mind, AltspaceVR will continue to work across multiple platforms, including the Oculus Rift, HTC VIVE, Gear VR and Daydream. The 2D mode for Windows and Mac will also continue to be supported.

At the moment, there is no version of AltspaceVR planned for the Hololens.

KitGuru Says; It would have been a shame to see AltspaceVR shut down, so I’m glad Microsoft stepped in here. From the sounds of it, things will now go back to being business as usual for the app, though I imagine there will be more of a push for Windows 10 VR in particular.

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