Magic Leap is apparently in talks with Meta, the parent company of social media giant Facebook, about licensing the startup’s augmented reality (AR) technology.
The Financial Times reports that the two businesses are “in talks to create a multiyear agreement” that would enable Meta to access some of Magic Leap’s AR intellectual property and utilize its supply chain and production capabilities in North America for upcoming products.
However, it is too early to know if this deal would go through, and even if it does, they are not likely to collaborate on a product.
Magic Leap has been developing AR technology for several years and has already debuted its Magic Leap One AR glasses, which have gotten mixed reviews. However, it has continued to develop the technology and is undoubtedly the market leader.
Meta, on the other hand, has been significantly investing in augmented reality since the company sees it as a critical component of its future. It has released Quest 2 and is presently working on a more advanced headgear for a variety of applications.
There are a few major technology companies working on AR technology, but no one has developed a revolutionary product thus far. The companies’ continuous investment in this field indicates that they are serious about AR and expect it to play a significant role in the future.
Magic Leap CEO Peggy Johnson said in 2021, with the release of the company’s second-generation AR glasses, that the business was receiving interest in incorporating its in-house AR technology into consumer devices.
“We have received several requests to license our technology and will actively pursue these opportunities if they enhance our position,” Johnson said in a blog post.
Meta’s interest in Magic Leap’s AR knowledge and resources comes at the eleventh hour, just as Apple has predicted a potential industry disruption. Although the Mark Zuckerberg-led company presently dominates the XR market with to its Quest (previously Oculus) hardware line, it hasn’t actually come close to realizing Zuckerberg’s ambitious targets.