An early pioneer of augmented-reality is considering a sale

Magic Leap, an early pioneer of augmented-reality headsets, is considering a sale after having held talks with several potential buyers… It was unclear whether the talks would lead to any transaction, said a person close to Magic Leap’s senior management, who added that the company was also considering raising a new round of funding. Magic Leap has been in talks with investors about raising up to $500 million since late last year but the round has not yet closed. Despite several rounds of funding from global investors totalling more than $2 billion, it is unclear how much Magic Leap would be worth. AT&T, the telecoms operator, acquired a small stake in the augmented-reality group in 2018 at a $6.3 billion valuation… Facebook and Magic Leap had some early interaction but that never progressed to formal deal talks… The social media company is not currently looking into an acquisition of Magic Leap… Magic Leap’s best asset could be its intellectual property, given its head start in working on AR technology. Rony Abovitz, the former surgical roboticist who founded Magic Leap in 2010, has raised money from several large investors, including Google, Japanese wireless operator NTT DoCoMo, Alibaba, Saudi Arabia’s sovereign wealth fund PIF and Singapore’s state-back fund Temasek. 

James Fontanella-Khan, Tim Bradshaw and Hannah Murphy