March 11, 2020 / 11:33 PM / in 17 days

Augmented reality company Magic Leap to explore sale: Bloomberg

(Reuters) - Florida-based augmented reality startup Magic Leap Inc is exploring options, including a sale, Bloomberg reported on Wednesday, citing people familiar with the matter.

The company, which has Alphabet Inc’s Google and Alibaba Group Holding Ltd among its investors, could fetch more than $10 billion if it pursues a sale, the report said.

The startup makes lightweight, wearable computers with augmented reality features called Magic Leap One, which creates lifelike virtual objects.

Magic leap is working with an adviser to consider strategic options that include forming a partnership or selling a significant stake ahead of a potential listing, according to the report.

Social media network Facebook Inc, which in February warned that the production of its own virtual reality headset Oculus could take a hit from the global coronavirus outbreak, is not currently interested in acquiring Magic Leap, the Bloomberg report said, citing a source familiar with the matter.

Magic Leap and Facebook did not immediately respond to Reuters request for comment.

Reporting by Manojna Maddipatla in Bengaluru; Editing by Krishna Chandra Eluri

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