Meta Platforms, the parent company of social media giant Facebook, is reportedly in talks with Magic Leap for licensing the company’s augmented reality (AR) technology.
If the deal goes through, then Meta will get access to Magic Leap’s expertise in the development of lightweight and high-resolution AR headsets, a segment in which the social media company has invested heavily.
The deal would be a major step forward for both companies as Meta will get access to Magic Leap’s technology while the latter will get an infusion of cash, helping it accelerate the development of its tech. However, it’s still too early to tell if the deal will go through, and even if it does, then they are not expected to make a product together.
Magic Leap has been working on the development of AR technology for several years now, and it has already released its AR glasses named Magic Leap One which received mixed response. However, it has kept developing the technology and is arguably the leading player in the market.
On the other hand, Meta has been heavily investing in augmented reality as the company sees the technology as a core part of its future. It has launched Quest 2 and is now looking to develop a more advanced headset for a wide range of applications.
There are a few major technology companies working on AR technology but no one has launched a disruptive product so far the continued investment in this space indicates that the companies are serious about AR and expect it to play a major part in the future.
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