Planar Systems has announced the finalisation of the merger agreement with NaturalPoint, a leading provider of optical tracking and motion capture solutions.
The acquisition, which was announced on 8 November, 2016, 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 visualisation and animation.
When the deal was announced last year, Zach Zhang, chairman of Planar, commented: “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, CEO of NaturalPoint, added: “NaturalPoint has grown to be the leader in precision optical tracking and this acquisition recognises 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.”
Roth Capital Partners, LLC served as financial advisor to Planar and Vista Point Advisors served as financial advisor to Natural Point.
NaturalPoint will remain a separate business with its own executive team, customers, and market initiatives.