Planar Systems Agrees to Acquire NaturalPoint
Acquisition Brings Combined Leadership to Growth Markets of AR and VR
Planar Systems, a Leyard company, a leading worldwide provider of display systems, announced on November 8th, 2016 that they have entered into a definitive merger agreement to acquire NaturalPoint, the global leader in optical tracking and motion capture solutions, for $125 million in an all-cash transaction.
The acquisition brings together leaders in complementary technologies to increase attention on the high growth and strategic opportunities in augmented and virtual reality and in other market segments like CAVEs, drone tracking, movement sciences, sports performance, computer visualization and animation.
NaturalPoint, makers of OptiTrack, TrackIR and SmartNav branded products, is headquartered two hours south of the Planar campus in Oregon, employs a team of 60 in North America, and has a state-of-the-art 25,000 square foot facility for its optical tracking business. The close physical proximity of the two companies will facilitate opportunities to better serve their growing customer bases, work with valued suppliers, and collaborate with industry partners to support these two businesses.
Zach Zhang, the Chairman of Planar, said, “We believe these two companies will complement each other and create significant opportunities for growth. This acquisition demonstrates our ongoing commitment to building capabilities in engineering, manufacturing, marketing, and sales in North America and internationally.”
Jim Richardson, Chief Executive Officer of NaturalPoint, said “NaturalPoint has grown to be the leader in precision optical tracking and this acquisition recognizes the ecosystem relationship that exists between tracking and display technology. This acquisition is all about leveraging our strengths with the Planar team and continuing to build the world’s best tracking products for our existing customers and for new markets.”
The acquisition is subject to customary closing conditions, and is expected to finalize in the fourth calendar quarter of 2016 or early in the first calendar quarter of 2017. NaturalPoint will remain a separate business with its own executive team, customers, and market initiatives.