Chinese computer company SGOCO has recently announced the full acquisition of virtual reality (VR) research and development company Century Skyway Limited, which is also based in China.
SGOCO are mainly focused on product design, development and distribution within the computer product market in China, which is known to be a growth area as China’s economy expands and develops. Century Skyway Limited, also known as CSL is a research and development firm who have previously worked with peripheral manufacturer Razer as part of the development of the OSVR. CSL are also working on technology aimed at making VR head-mounted displays (HMDs) into wireless devices and technology to calibrate VR headsets using ultrasound.
Regarding the acquisition of CSL, Mr. Xie Shi Bin, Chief Executive Officer of SGOCO commented: “We are increasing our investment in new information technologies in order to rapidly grow one of our core product segments. We believe this acquisition will accelerate our transition from a traditional computer and flat screen company to a new information technology, 3D and virtual reality technical company. We are excited the new business opportunities brought forth through this acquisition which will help us to generate additional revenue and eventually contribute to sustainable profitability for the Company.”
Full financial details of the acquisition were not released, so its unknown how much SGOCO paid for the company, but value of company shares increased after the announcement was made public. SGOCO have been acquiring other companies in recent months, such as Boca International which manufactures an energy-saving cooling and heating system.
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Source: SGOCO Acquires VR R&D Firm Century Skyway Limited