Magic Leap Acquires Cybersecurity Firm North-Bit
Florida-based Magic Leap has acquired Israel-based cybersecurity software solutions provider North-Bit, according to a Geektime report.
North-Bit, founded in 2012, was in the news in March 2016 when it claimed it had exploited the Android Stagefright bug. Security researchers successfully demonstrated how exploitation of the bug would allow remote hacking of older versions of Android smartphonse. North-Bit specializes in computer forensics, reverse engineering and CPU optimizations.
Since Magic Leap has recently raised a large amount of capital (Series C in February 2016 raised $793m) bringing their market valuation to $4.5 billion. Investors in Magic Leap’s latest round include Alibaba Group, Warner Brothers, Fidelity Management and Research Company, Morgan Stanley, JPMorgan, and Andreessen Horowitz.
The fact that Augmented Reality has multiple uses for enterprise suggests that it makes sense for Magic Leap to improve cyber security aspects of their software. The report suggests that future collaborations and acquisitions may be in the cards owing to the large amount of investment capital having been raised.