Infinity Augmented Reality, Inc. Encouraged by Facebook Acquisition of Oculus VR for $2 Billion
(Marketwire Via Acquire Media NewsEdge) TEL AVIV, ISRAEL -- (Marketwired) -- 03/26/14 --
Infinity Augmented Reality, Inc. ("Infinity Augmented Reality" or "Infinity AR") (OTCQB: ALSO), a leading innovator in augmented reality technology, developing software technology for future wearable and augmented reality devices, such as Google Glass, Meta, Smartphones and Tablets, announced today that their business model path is hugely encouraged by yesterday's announcement of Facebook's acquisition of Oculus VR for $2 billion.
Oculus VR is a maker of a virtual realty device called Rift that allows people to play games as if they are truly immersed in a virtual environment. Mark Zuckerberg, the CEO of Facebook, commented after the acquisition that "Mobile is the platform of today, and now we're also getting ready for the platforms of tomorrow." It is apparent that devices such as Oculus Rift are going to completely change the way digital content and information is consumed from passive viewing to actively experiencing information. The significance of the Facebook acquisition is the vote of confidence and conviction from one of the technological giants in wearable computers. While many experts have predicted that this platform was going to explode in the coming years, today's news is the clearest indication that the augmented reality revolution has actually begun.
"I am excited to see what has been a very active week in the Augmented Reality technology sector with Facebook's acquisition of Oculus VR, Google teaming up with Luxottica Group to help 'Glass' go mainstream, and Intel acquiring Basis Science Inc.," says Motti Kushnir, COO of Infinity AR. "I believe that Infinity AR is developing one of the most exciting technology platforms for the future."
About Augmented RealityAugmented reality is a medium in which real sensory inputs are enhanced, or augmented, with relevant digital information from the Internet. Using specially equipped eyewear, virtual images, video, and sound are superimposed for the user over what is actually seen and heard, heightening the real-life experience with additional information that is pertinent, informative, practical and entertaining. The individual user may also be fully immersed in a virtual world, temporarily blocking out real surroundings. With augmented reality, sensory inputs are no longer limited to what is within eyeshot or earshot, but may incorporate, in real-time, all that the network has to offer.
Augmented reality requires an interface, such as digitally-enhanced eyewear, that can instantaneously overlay virtual images and video on top of what is actually experienced. Companies like Google and Lumus are in the process of developing augmented reality glasses that will change the way users see and interact with the world. Infinity AR will utilize its augmented reality applications through these glasses and through other mobile devices including smart phones. As the individual changes his or her visual perspective the sights that are overlaid change accordingly. The eyewear incorporates audio speakers that add virtual sounds to the experience, as well as microphones that capture and interpret the user's spoken commands through speech recognition technology in order to summon desired information and actions. Further information on the Company is available at its website, www.infinityar.com.
Safe Harbor Forward-Looking StatementsSome statements in this release may be "forward-looking statements" for the purposes of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in our public filings with the Securities and Exchange Commission. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. We undertake no obligation to update these forward looking statements.
Infinity Augmented Reality, Inc.
Chief Operating Officer
Source: Infinity Augmented Reality
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