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.
About AT&T
AT&T is an American multinational telecommunications holding company headquartered at Whitacre Tower in Downtown Dallas, Texas. It is the largest telecommunications company in the world, the second largest provider of mobile telephone services, and the largest provider of fixed telephone services in the United States through AT&T Communications. AT&T is helping millions around the globe connect with leading entertainment, business, mobile and high speed internet services. AT&T is also one of the world’s largest providers of pay TV. The company has customers in the U.S. and 11 Latin American countries. More than 3 million companies, from small to large businesses around the globe, turn to AT&T for our highly secure smart solutions.
