21st Century Fox has announced a preliminary agreement to acquire a minority stake in augmented and virtual reality and smartglass designer Osterhour Design Group.
In addition to 21st Century Fox becoming the principle outside investor, the two companies will enter into a strategic partnership to bring ODG’s technology together with the content of 21st Century Fox.
“The power of virtual and augmented reality enables us to deliver on our longstanding commitment to bring audiences exciting new creative experiences fueled by next generation technologies,” Jim Gianopulos, chairman and CEO of 20th Century Fox Film, said 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.”
“We’re excited to have 21st Century Fox join our family and help extend our considerable leadership in AR head-worn computing,” Ralph Osterhout, CEO of ODG, said. “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.”