Apple bought an augmented-reality company (AAPL)

Apple bought a company called Metaio that makes augmented-reality technologies, according to TechCrunch.

Augmented reality, or AR, is the concept that allows developers to overlay digital information on top of the real world. Many companies are working on AR including Microsoft with its HoloLens project and Google through its major investment in the secretive startup Magic Leap.

Metaio licensed its AR technology to several companies, and TechCrunch reports several of them were frustrated when Metaio suddenly went dark.

Apple did not respond to a request for comment from Business Insider.

Here's a video TechCrunch found that shows how Metaio's AR technology works:

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