Internet technology provider Google is set to acquire US-based imaging technology developer Lytro, in a deal that will enable corporates Qualcomm, Huayi Brothers and Foxconn to exit, TechCrunch reported on Wednesday.
Google will pay between $25m and $40m for Lytro, which had raised more than $200m altogether, according to different sources, one of which described the prospective transaction as an “asset sale”. Neither Google nor Lytro confirmed TechCrunch’s report.
Founded in 2006, Lytro has developed a light-field camera and imaging platform that can create the perception of 3D from 2D photographs, for purposes such as virtual reality. It currently holds 59 patents related to light-field and other digital imaging technologies.
The company secured $60m in a February 2017 round led by alternative asset management firm Blue Pool Capital also backed by contract manufacturer Foxconn, entertainment group Huayi Brothers and Qualcomm Ventures, the corporate venturing arm of mobile chipmaker Qualcomm.
Lytro’s shareholders also include the Singaporean government-owned EDBI, Andreessen Horowitz, New Enterprise Associates, GSV Capital, North Bridge Venture Partners, Allen & Company, Danhua Capital and private investor Barry Sternlicht.
– Image courtesy of Lytro.