Planar Systems, a Leyard company, announced on November 8, 2016 that it has entered into a definitive merger agreement to acquire NaturalPoint, a global provider of 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 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.
“We believe these two companies will complement each other and create significant opportunities for growth,” said Zach Zhang, chairman of Planar. “This acquisition demonstrates our ongoing commitment to building capabilities in engineering, manufacturing, marketing, and sales in North America and internationally.”
“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,” said Jim Richardson, chief executive officer of NaturalPoint. “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.