Intel Acquires Israeli Virtual Reality StartupMar. 10, 2016
Intel Corp. said that it had agreed to acquire Replay Technologies, an Israeli virtual-reality startup specializing in the digitization of sports, a business the Silicon Valley giant is eager to grow.
The chip maker is expected to pay between $150 million and $170 million for the Tel Aviv-based company, according to two people familiar with the transaction.
The deal is expected to close in three weeks, one of the people said, following which Replay’s Chief Executive Officer Oren Yogev is expected to be appointed as corporate vice president at Intel.
Replay Technologies’ proprietary format uses high-resolution cameras and computer-intensive graphics to let viewers see and experience sporting events from any angle, according to Intel.
“Together, we will scale this new category for sports entertainment that we call immersive sports,” Wendell Brooks, a senior vice president at Intel, said in a blog post on Tuesday. Intel didn’t provide financial details of the transaction in the post.
The acquisition is part of Intel’s recent push in the domain of augmented reality and virtual reality. It has acquired at least five companies specializing in such technologies and is currently working on an augmented-reality wearable headset.