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Report: Magic Leap looking to sell off its business | Pocket Gamer.biz

US mixed reality startup Magic Leap is reportedly exploring various sales options.

As reported by Bloomberg, sources close to Magic Leap confirmed that the AR device and its business could be sold off in the near future.

Since the company's inception in 2010, Magic Leap has raised $2 billion via funding through big names companies such as Google and Alibaba. The Magic Leap 1 headset was launched at a price of $2,295, however sales underperformed.

$10 billion valuation

In 2017, the company valued itself at $6 billion, however it's expected that a sale today could bring in an estimated $10 billion.

Medical firm Johnson & Johnson is reportedly interested in a deal, according to the sources. Facebook is reported to have had initial talks about an acquisition, but never made it to a conversation about a deal.

PocketGamer.biz has reached out to Magic Leap for comment.

In May last year, Magic Leap acquired Belgian AR holographic teleconferencing start-up Mimesys for an undisclosed fee.

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