Google To Invest $500M In Broward-Based Business

Oct 15, 2014 No Comments by

Google and other investors are planning to invest up to $500 million in Dania Beach-based tech firm Magic Leap, according to the tech news website Re/code.

The company, a digital animation and cinematic reality experience creator, is working on a high-tech virtual reality product — but beyond that, it’s kept its activities largely secret. Its CEO,Rony Abovitz, co-founded the surgical robotics firm Mako Surgical, which was sold for $1.65 billion in December 2013.

“We are a stealth company,” Abovitz told the Business Journal in February. “We definitely need to keep it under wraps until it’s ready to go.”

John Criddle of Cushman & Wakefield  negotiated an eight-year lease with Magic Leap for 11,500 square feet on the fourth floor of the “B” Building at 1855 Griffin Road for its corporate offices in May 2013. The company relocated from 4718 Roosevelt Street in Hollywood.

Magic Leap received $50 million in funding in February to develop its human computing interface technology called Cinematic Reality.

 

Source: SFBJ

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