AT&T has announced a strategic, “exclusive U.S. consumer relationship and investment” with mixed reality startup Magic Leap.
CNBC reported that according to an AT&T spokesperson, the deal includes an equity investment in Magic Leap and a retail partnership. AT&T however, declined to disclose the amount of investment.
“AT&T is excited to pair our pioneering technologies, unmatched network, content platform, and vast customer ecosystem with Magic Leap’s efforts to build the next generation of computing,” said AT&T Communications CEO John Donovan, who has observer rights with Magic Leap’s board. “We’re designing and offering the future of entertainment and connectivity, and this exclusive arrangement – in combination with our 5G leadership position – will open up new opportunities and experiences.”
Magic Leap’s first product is Magic Leap One, Creator Edition. It is a lightweight AR glasses that will enhance real world experience with digital content and is set to ship this summer to qualified developers and designers.
“We’ve joined with AT&T because we believe in a combined vision of expanding high-speed networks, edge computing, and deep integration with creative content,” said Rony Abovitz, Founder, President and CEO of Magic Leap. “Coupling the strength of the evolving AT&T network with Magic Leap’s spatial computing platform can transform computing experiences for people.”
Under the partnership, AT&T will be the exclusive wireless distributor of Magic Leap products in the United States. When the product hits the market later this year, AT&T said its customers will be among the first to experience it in select stores in Atlanta, Boston, Chicago, Los Angeles, and San Francisco, with more markets to follow.
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