Tiktok owner ByteDance mulls an acquisition of  Pico, a Chinese maker of virtual reality hardware, Bloomberg reported Thursday citing people familiar with the matter. Pico designs and sells VR products to clients mainly in Asia, Europe and US. The startup is also China’s largest VR gear maker in terms of market share in 2020, according to IDC. The investment deal is valued at RMB 5 billion ($771 million), various Chinese media reported. ByteDance’s spokesperson didn’t immediately respond to request for comments when contacted by TechNode. If true, ByteDance will follow other global tech titans including Facebook, Apple and Huawei to make a foray into the emerging sector. [Bloomberg]