Leap Motion is a startup that deals with augmented and virtual reality. Where the hardware of the company is very strong and can be used for both business and personal purposes, the business side seems to be characterized as weak. Talks with Apple twice failed for a takeover.
Business Insider reported this today in an extensive report on the takeover attempts. Over the past five years, Leap Motion has ruined two acquisition attempts by Apple for reasons that are not entirely clear. However, based on internal sources at Leap Motion, Business Insider states that management had unrealistic expectations.
According to Business Insider, Apple first spoke with founders Michael Buckwald and David Holz about a possible acquisition in 2013. The intention was to revive Apple’s mixed reality initiatives. Apple planned to take over Leap’s employees and fit them into its own ranks. But Leap’s most important accessory, a device that translates hand gestures into commands for computers, didn’t need to be included.
However, Holz was not interested in the acquisition. He told Apple that it was no longer innovative and that his technology was worth nothing. In addition, he praised Android into the sky. During conversations with employees Holz is said to have said that he did not want to work for the devil and had therefore rejected the takeover attempt.
In the years that followed, however, Leap didn’t do so well. Apple was still interested in the acquisition, but as no deal seemed to come, it took over some staff for the augmented reality division. Last spring, Apple was supposed to have tried to take over Leap Motion again. This time for 30 to 50 million dollars. A formal offer was even made and HR packages were sent to Leap employees.
But once again the deal fell through, this time because Holz and Buckwald would think their company was worth more money. The startup was valued at 306 million dollars, but hardly achieves any turnover. Now the company is conducting new acquisition talks – apparently not with Apple.This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.