21st Century Fox, the multinational mass media corporation of America has bought a minority stake in Osterhout Design Group, the augmented reality firm. If the stake is acquired, Fox will be the main investor from outside, in ODG. Though the financial terms haven’t been disclosed yet, this will be a big development for Osterhout Design Group.
As per the companies, a strategic partnership will happen between the two companies and the studio content of Fox will be combined with the smartglass and augmented reality technology of ODG.
Film Experience to Grow with the Partnership
The chairman and CEO of 20th Century Fox Film, Jim Gianopulos 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. 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.”
He added “The power of virtual and augmented reality enables us to deliver on our longstanding commitment to bring audiences exciting new creative experiences.”
21st Century Fox owns 20th Century Fox Film and the Fox television networks.
Widespread Consumer Adoption of AR Displays
ODG has currently developed its new set of augmented reality glasses called the R-7. The glasses do not need any external computing and has 3D stereoscopic displays.
The CEO of ODG, Ralph Osterhout, said about the partnership: “We’re excited to have 21st Century Fox join our family and help extend our considerable leadership in AR head-worn computing. 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.”
The company said: “ODG is further cementing its leadership in the smartglasses arena as it moves into immersive experiences for entertainment with the introduction of its high-definition, cinema-wide field of view technology, which it is demonstrating at CES 2016.”
Osterhout Design Group is a privately-held company which was founded in 1999 and has over 80 employees.
What do you think?
What’s your thought regarding the stake? Do you think this will improve the future of augmented reality displays? Share your thoughts in the comments below.
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