By Sam Boughedda
Investing.com -- Snap Inc (NYSE:SNAP) shares closed down 1% on Wednesday after it said it has acquired Paris-based neurotech firm NextMind.
The Paris-based startup 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.
Snap said the company will help drive long-term augmented reality research within its Snap Lab, the company's hardware team that focuses on building devices for Snap's augmented reality platform.
"We're looking forward to working with NextMind to overlay computing on the world and improve the way that technology can serve humanity," Snap said in its press release.