After spending the last couple of weeks closing the deal to buy TimeWarner for $85 billion and buying ad firm AppNexus for up to $2 billion, today AT&T announced a key distribution move in its new bid to be a media powerhouse: it’s taking a strategic investment into Magic Leap, the high profile augmented reality startup, which will include becoming the exclusive “wireless distributor” of Magic Leap products in the U.S.

Magic Leap has raised more than $2 billion to develop its hardware and software, but it has yet to launch. However, coincidentally, Magic Leap is planning to show a demo and specs of its first product, the Magic Leap One, Creator Edition, today at 11am Eastern time on a livestream.

“We’ve joined with AT&T because we believe in a combined vision of expanding high-speed networks, edge computing, and deep integration with creative content,” said Rony Abovitz, Founder, President and CEO of Magic Leap, in a statement. “Coupling the strength of the evolving AT&T network with Magic Leap’s spatial computing platform can transform computing experiences for people.”

The two companies have not revealed the financial terms of the stake: specifically Magic Leap last raised …read more

Source:: TechCrunch


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