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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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Niantic Sells Pokémon Go To Saudi Arabia To Fund Spatial AI Transition

Upload VR

Everyone's Pokdex in Pokmon Go is now effectively owned by the king of Saudi Arabia. Savvy is wholly owned by Saudi Arabia's Public Investment Fund and they bought Scopely for $4.9 Historically, hardware manufacturer Magic Leap was dismissed by some after it took Saudi Arabia's investment.

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VR Attraction Chain Sandbox VR Passes $200M in Lifetime Revenue with 29 New Locations Expected in 2025

Road to VR

According to the franchise’s prospectus , target markets in 2025 include theUSA, multiple European countries, UAE, Saudi Arabia, Bahrain, Qatar, Kuwait, Egypt, Canada, Malaysia, India, The Philippines, Australia, Indonesia, Thailand, Vietnam, South Africa, South Korea, Mexico, Chile, and Turkey.

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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.

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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.

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XR to Retell Tale of Saudi Arabia, Midwam CEO Says

XR Today - Mixed Reality tag

Midwam, a startup company from Saudi Arabia, joined the Immerse Global Summit (IGS) 2022 Europe on Thursday to discuss how the Middle Eastern nation facilitated digital storytelling by tapping innovative, immersive technologies. Khalid al-Muawad, Chief Experience Officer at Midwam.

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‘TREKS’ Brings Immersive Walking Tours of Iconic Destinations to Omni One VR Treadmill

Road to VR

Saudi Arabia Step into the rich history of Fort Masmak and the stunning architecture of Al Rajhi Mosque. Niagara Falls Experience the power of the falls from both the American and Canadian sides. New York City Tour famous landmarks including the Statue of Liberty, Times Square, Central Park, and the Brooklyn Bridge.