Just about every major tech company knows that they need to be ready for the imminent virtual reality revolution, but they also know that if you can’t beat the best virtual reality tech startups on the market, it’s best to join them.
That’s what Intel did by dropping upwards of $170 million to acquire Replay Technologies, an Israeli virtual reality startup that pioneered live 3D video technology, Intel Senior Vice President Wendell Brooks announced in a blog post. Dubbed “freeD video,” Replay’s tech stitches together the images from dozens of cameras placed around sports stadiums to give broadcasters the ability to show replays with more accuracy and perspectives than ever before — not to mention the possibilities when users have their own headsets and freeD worlds to move around in.
“Together, we will scale this new category for sports entertainment that we call immersive sports, which is attracting the attention of leagues, venues, broadcasters and fans,” Brooks explained in the blog post. “Immersive sports requires the high-performance computing Intel is known for, and it’s also data-driven — fueling the continued build out of the cloud. For athletes, coaches, broadcasters and fans, the ability to capture, analyze and share data adds compelling new dimensions to the game.”
Two anonymous sources told The Wall Street Journal that Intel could end up shelling out between $150 million and $170 million for Replay when the deal closes in an estimated three weeks. In addition to bringing Replay’s tech into the Intel fold, Replay CEO Oren Yogev is also expected to receive a commission as corporate vice president at his new parent company.
Whatever happens, the changes shouldn’t be too disruptive for either side. WSJ noted that Intel and Replay have been collaborating in some capacity since at least 2013, so if there were major red flags to the acquisition, both sides should have found them by now.
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