After negotiations with Apple fail, Leap Motion sold to UltraHaptics for bargain price of $30 million

“Leap Motion, which made hand-tracking systems for virtual and augmented reality headsets, is reportedly being acquired by haptics company UltraHaptics,” Adi Robertson reports for The Verge. “The Wall Street Journal reported the news earlier today, saying that the San Francisco-based Leap Motion had agreed to sell for around $30 million.”

“That’s a fraction of Leap Motion’s $306 million valuation at the peak of its hype in 2013. But it’s similar to a figure that Apple supposedly discussed during a never-completed acquisition last year,” Robertson reports. “The Journal reports that UltraHaptics will get Leap Motion’s patents and hire most of its staff, with the exception of CEO and co-founder Michael Buckwald, who will reportedly leave the company.”

Robertson reports, “UltraHaptics already uses Leap Motion technology.”

Read more in the full article here.

MacDailyNews Take: Cue the sad trombone for Leap Motion.

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