Google may have glasses and Apple may be rumored to be making a smart watch. Now Microsoft can be effectively buying itself a work of wearable Theater by paying up to $ 200 million in assets and a treasure trove of patents quiet Osterhout Design Group of San Francisco, an old USA military contractor.
The deal is not closed yet but we are hearing that term sheets have been reduced. They are still negotiating on the price and what will ultimately be included in the agreement between many patents Osterhout, which stands at more than 140 staff and more. From what we understand, the prices are focusing discussions around what Microsoft will buy from ODG: whether to include only patents, or if it will also include existing contracts, and staff. Google,
Samsung
LG and apparently expressed interest in the company, but Microsoft is the most aggressively pursued.
ODG has been around since 1999, and as befits its line of business people working in military technology, has been well below the radar. The only investor in the company that is listed on Crunchbase profile is David Spector, a former partner at Sequoia who is now working on his own startup, meCommerce.
We have come to ODG and Microsoft to comment for this story and will update if they respond.
strategic fit
Microsoft is at a turning point as a business, which is taking a big step in two key areas around hardware and services company. This agreement, and Kinect Xbox head Don Mattrick originally defended before leaving to be CEO of Zynga, is one that could help in these two areas.
Osterhout has built a business of military contracting in recent years which has about $ 40 million to $ 50 million in contracts. The United States government is one of the largest customers of the company. Osterhout launches its technology - which, for example, could be used in the head that can help the user to detect the direction of moving objects quickly, or behind closed doors - not consumers, but large companies and other organizations.
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