Magic Leap acquires NorthBit


Magic Leap, a virtual reality firm, has acquired NorthBit, a Herzliya, Israel-based company that offers internet products to bolster cybersecurity.

According to a release, the acquisition will strengthen advanced software research and improve security standards for the Dania Beach, Fla.-based startup, which is developing a head-mounted virtual retinal display that juxtaposes computer-generated imagery over real world objects.

Financial terms were not disclosed.

"We believe that people may want to use this new form of computing as much, if not more than their mobile device," Magic Leap CEO and founder Rony Abovitz said a year ago in a Reddit thread.

Last month, NorthBit detected a vulnerability that could allow hackers to access data and functions on older versions of the Android operating system, used on nearly 300 million phones.

Citing research from Goldman Sachs, Alibaba said the virtual reality hardware industry is poised to hit $110 billion by 2025.

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