Virtual reality technology producer Oculus VR agreed on Thursday to acquire Israel-based 3D motion sensor developer Pebbles Interfaces, providing exits for several corporate backers.
Industrial product maker Robert Bosch, flash storage provider SanDisk and smartphone manufacturer Xiaomi are all set to exit Pebbles. The price paid by Oculus, which was itself acquired by social network Facebook in March 2014, was reported by the Wall Street Journal to be $60m.
Founded in 2010, Pebbles produces the motion sensor technology required for VR systems to track hand movement and replicate it in an artificial setting. Its technology was already being embedded into Oculus VR’s Oculus Rift system prior to the acquisition.
Pebbles raised $11m in a 2013 round co-led by Robert Bosch Venture Capital, which acts as Robert Bosch’s corporate venturing unit, and Giza Venture Capital. The round also included SanDisk Ventures, the investment subsidiary of SanDisk Corporation, Xiaomi, iNetworks, Shunwei Capital and CTQuan.
The company had previously received seed funding from venture fund iNetworks in 2011.
– Photo courtesy of Oculus VR