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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. The investment puts the country’s ownership of Magic Leap over 50 percent, giving it overall majority control.

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Saudi Arabia’s Public Investment Fund Takes Control of Magic Leap

XR Today - Augmented Reality tag

To close 2022, Magic Leap’s leadership team underwent a major restructuring following a significant investment from Saudi Arabia’s sovereign wealth fund. The investment by Saudi’s PIF division allows the region to own over 50 percent of Magic Leap’s ownership stake. 120 Hz refresh rate.

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The XR Week Peek (2020.06.13): Magic Leap exploring a sale, events are going virtual and more!

The Ghost Howls

Image by Magic Leap). Magic Leap is on sale. A report on Bloomberg informed us all that Magic Leap is exploring a sale of the company. The sales never skyrocketed and now Magic Leap is in desperate need of cash , after many layoffs, disappointing sales, and having put its IP as collaterals to a bank.

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The XR Week Peek (2020.05.11): new Quest is in the works, Magic Leap may pivot to healthcare, and more!

The Ghost Howls

Also, new more ergonomic controllers, that solve the flaws of the current design, will be part of the package. These controllers should be compatible with the current Quest. Image by Magic Leap). Magic Leap looks for a $100-million deal to save itself. Mechanical IPD is confirmed.

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GDC 2018 ‘Day 1’ Roundup – Vive Pro Pricing, Magic Leap SDK, Nvidia RTX, and More

Road to VR

Vive Pro date and price, Magic Leap announcements, Nvidia’s real-time ray-tracing, and Budget Cuts resurfaces. The improved headset is pitched as an upgrade for current Vive owners, as it works with the original controllers and base stations. It is still not known exactly when the improved controllers and SteamVR 2.0

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Magic Leap to Launch in 19 Countries, Exec Says

XR Today - Mixed Reality tag

AR tech firm Magic Leap is set to launch in 19 countries across the world, Lisa Watts, Vice President of Product Marketing and Developer Programs for Magic Leap announced at the Immerse Global Summit (IGS) 2022 Europe on Madeira Island, Portugal. Magic Leap 2 stands on the shoulders of giants and the force.

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The Ghost Howls’s VR Week Peek (2019.12.16): Oculus Quest gets hand tracking, Magic Leap pivots towards enterprise and much more!

The Ghost Howls

Doing that will disable the controllers, and you will be able to navigate in the menus just using your hands. Some developers have anyway already stated they plan to implement a controller-free interface in the next version of their applications. Magic Leap pivots towards enterprise. fast replacement of a broken unit).