As its portfolio continues expanding, Apple announced it has acquired Akonia Holographics for its display-making business. The startup, which began operations in Colorado six years ago, develops custom panels that are augmented reality-based.

Akonia was focused on data storage early on, but then the company pivoted to hardware. It creates lenses that are “thin, transparent” and show a full array of colors with a wide-angle viewpoint. The terms of the deal were not disclosed, though Reuters says that Akonia raised almost $12 in seed funding when it launched.

The deal was acknowledged, but Apple isn’t spilling any details on what it means. Here’s the generic statement offered by a spokesperson:

“Apple buys smaller companies from time to time, and we generally don’t discuss our purpose or plans.”

In recent months, Akonia went quiet; therefore, the acquisition might’ve occurred months ago.

Based on various reports and rumors, it seems like Apple scooped up Akonia in an effort to develop AR-based smart glasses. Apple has invested plenty of resources in the next-generation technology for various devices, including the iPhone and iPad.

Apple, according to Bloomberg, would like to have its smart glasses on the market in 2020.