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Saudi Arabia Gains Majority Stake in Magic Leap in $450M Deal

Road to VR

Saudi Arabia has taken majority share of the US-based augmented reality company Magic Leap, The Telegraph reports, widening the stake via its state-owned sovereign wealth fund with a deal amounting to $450 million. It also owns Premier League football team Newcastle United and LIV Golf, a challenger to the PGA Tour.

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Saudi Arabia to Boost Tourism Sector with AR Navigation Technology

XR Today - Augmented Reality tag

announced a partnership with AI Safer to enhance customer experiences for visitors to Saudi Arabian museums and tourist attractions. The region is undergoing Saudi Arabia’s “Vision 2030 “, an initiative to boost its cultural and tourism sector. Today, ARway.ai ARway is purpose built for the Vision Pro Launch.

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Magic Leap Gets Half-billion Dollar Boost Ahead of Vision Pro Launch

Road to VR

Saudi Arabia has recently injected more than half a billion dollars into augmented reality company Magic Leap, which it hopes will rival Apple’s Vision Pro mixed reality headset. Will Magic Leap 2 be able to compete with Apple? It’s certainly worth watching.

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This AR Wayfinder Platform Could Debut in over 35,000 Offices

XR Today - Augmented Reality tag

ARWay to Deploy Across 35,000 Offices Recent partnerships have seen ARWAY bring its no-code, AI-powered augmented reality wayfinding experience platform to a new global reach via pivotal new deals with major new partners.

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Report: Meta in Talks with Magic Leap for Multiyear AR Headset Tech Deal

Road to VR

Its majority stakeholder is Saudi Arabia’s state-owned sovereign wealth fund. In addition to Quest Pro mixed reality headset, Meta has confirmed it’s currently working on its next iteration of Quest, likely Quest 3, as well as its own AR glasses.

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ARway to Capture Growing IPN Market with AR Solution

XR Today - Augmented Reality tag

a significant leap forward in the commercial application of augmented reality. we are setting the stage for the next generation of augmented reality navigation and experiences. ARWay has also partnered with leaders in Saudi Arabia to introduce its AR solutions to the region. ARway version 3.0

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Magic Leap’s New AR Headset Is Coming This September

VRScout

The company also revealed the official specs of the device which you’ll find below: The Magic Leap 2 will be available for purchase on September 30th through select partners in the US, Canada, the United Kingdom, Germany, France, Italy, Spain, and the Kingdom of Saudi Arabia with plans for release in Japan and Singapore by the end of the year.