- Fox taking a minority stake, makes it the principal outside investor in ODG
- Strategic partnership to combine ODG’s augmented reality and smartglasses technology with the studio’s content
From Fast Company’s report:
Media giant 21st Century Fox will take a minority stake in San Francisco augmented reality startup Osterhout Design Group, the companies announced Wednesday.
The deal will make 21st Century Fox the principal outside investor in ODG, and the companies will enter a strategic partnership to combine ODG’s augmented reality and smartglasses technology with the studio’s content, the companies said.
“Our agreement with ODG underscores the innovation we are bringing to market through our Fox Innovation Lab, most recently with VR experiences for The Martian and Wild,” said Jim Gianopulos, chairman and CEO of 20th Century Fox Film, in a statement. “We look forward to partnering with ODG and serving as its lead outside investor as the ODG team pushes the film experience into the future with its high-definition, cinema-wide field of view technology.”
21st Century Fox is the parent of 20th Century Fox Film and of the Fox television networks.
ODG’s latest model of augmented reality smartglasses, the R-7, include 3D stereoscopic displays and require no external computing power.
“We’re excited to have 21st Century Fox join our family and help extend our considerable leadership in AR head-worn computing,” said Ralph Osterhout, CEO of ODG, in a statement. “This space is ultimately heading towards widespread consumer adoption and by having 21st Century Fox onboard, we’ll be able to deliver immersive and interactive entertainment experiences that transform how users consume content.”