InfiniLED acquired by Oculus to power the future of VR

Tyndall spin-out InfiniLED has been acquired by Facebook-owned Oculus, which plans to use the Irish company’s technology to enhance the performance of virtual reality devices.Eagle-eyed sources in Cork first noticed something was amiss when the door sign for InfiniLED was changed to Oculus in recent days.

Oculus is a virtual reality (VR) powerhouse created by Palmer Luckey, Brendan Iribe, Michael Antonov, Nate Mitchell and Jack McCauley in 2012. The company was acquired by Facebook in 2014 for $2bn in cash and stock. InfiniLED itself is an Enterprise Ireland-supported spin-out from Tyndall National Institute and University College Cork. It develops a range of LED light-source modules based on its patented µLED (microLED) technology, which it has licensed from Tyndall.

Investors in the company include Enterprise Ireland and IL Investment Group from Quebec in Canada.The terms of the acquisition were not disclosed but it is understood that the entire team of under 20 InfiniLED employees and CEO Joe O’Keeffe are now employees of Oculus Research.

It is also understood that the US company is now recruiting in Cork, in a move that may double the size of the operation in the city.

Source: https://www.siliconrepublic.com/