Virtual and augmented reality (VR/AR) company Leap Motion has been sold to a rival haptics business.
Ultrahaptics reportedly paid $30 million for the company, which was founded in 2010 and developed sensors to track hand movements for VR use, and was working on a design for an inexpensive AR headset.
The $30 million paid falls well short of the $300 million the company was reportedly valued at in 2013, and follows two unsuccessful attempts by Apple to acquire it.
A developer of haptic technology that creates tactile sensations in mid-air using ultrasonic waves, Ultrahaptics is a long-time Leap Motion developer and licensee. The two companies have been working together for nearly six years.
“This deal will create a vertically integrated technology company that brings us that much closer to fully immersive, rich and physically intuitive virtual interfaces,” the company explained in a blog post.
It continued: “Joining forces will not only lead to new and exciting products, but entirely new categories of technologies that could only come from deep collaboration between these teams.”
“Our two companies together will be more than the sum of their parts. At Leap Motion we’ve always been about breaking down the barriers between people and technology to reach the true potential of both. This announcement represents the next step in this quest, and we are honoured to have you continue with us on this journey.”
Image credit: Leap Motion