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Report: Magic Leap looking to sell off its business

Medical firm Johnson & Johnson reportedly interest

Report: Magic Leap looking to sell off its business

US mixed reality startup Magic Leap is reportedly exploring various sales options.

As reported by Bloomberg, sources close to Magic Leap confirmed that the AR device and its business could be sold off in the near future.

Since the company's inception in 2010, Magic Leap has raised $2 billion via funding through big names companies such as Google and Alibaba. The Magic Leap 1 headset was launched at a price of $2,295, however sales underperformed.

$10 billion valuation

In 2017, the company valued itself at $6 billion, however it's expected that a sale today could bring in an estimated $10 billion.

Medical firm Johnson & Johnson is reportedly interested in a deal, according to the sources. Facebook is reported to have had initial talks about an acquisition, but never made it to a conversation about a deal.

Magic Leap declined to comment when reached out to. 

In May last year, Magic Leap acquired Belgian AR holographic teleconferencing start-up Mimesys for an undisclosed fee.


Features Editor

Matthew Forde is the features editor at PocketGamer.biz and also a member of the Pocket Gamer Podcast. You can find him on Twitter @MattForde64 talking about stats, data and everything pop culture related - particularly superheroes.

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