China’s ByteDance Acquires Local VR Headset Manufacturer Pico

ByteDance Ltd. has acquired Pico, a Chinese maker of virtual reality headsets, as it seeks new drivers for growth.

“Pico’s comprehensive suite of software and hardware technologies, as well as the talent and deep expertise of the team, will support both our entry to the VR space and long-term investment in this emerging field,” a ByteDance spokesperson said in a statement Sunday, without providing financial details. “We are optimistic about the future of VR and its alignment with our mission.”

Founded in 2015, Beijing-based Pico employs more than 300 people and sells its VR headsets to businesses globally. An investment ...