Leyard announced on June 2, 2016 that the company’s wholely owned subsidy has participated in the investment of PV ML LLC, the investment entity that signed the share transfer agreement with Legend Pictures for the acquisition of Magic Leap’s stake.

Leyard Hong Kong invested US $ 2 million for special purpose company (SPC). The total amount of the company is worth of US $5 million, translating into 217,100 preferred shares. The company is specifically launched for the purpose of investment, as it will not be used for other purpose in the future. The stakes special purpose company transferred is the same price comparing to Alibaba’s investment in February, 2016.

Magic Leap, the world’s renowned augmented reality (AR) company hires more than 500 employees, was founded on May 5, 2011. The company has attracted stakeholders include Google, Alibaba, Qualcomm, Warner Bros., KKR, Morgan Stanley and others. Magic Leap’s R&D aims at turning the real world into the “desktop” of virtual display, which it terms as “mixed reality”. Mixed reality seamlessly displays virtual image in the real world.

The augmented and virtual reality technology company, Magic Leap utilizes digital light field and special algorithm, which is entirely different from the technical system of traditional virtual reality technology. The digital light field originates from the three dimensions image generated by capturing light field, which is also known as integral imaging, proposed by Nobel laureate Gabriel Lippmann in 1908.

Magic Leap uses up-to-date Fiber Optic Projector that combines retinal imaging display and sophisticated endoscope technology that resolves the issue of simulation sickness with improved field of view. This allows users to sense the virtual reality, also termed as mixed reality, in the same way they view the real world.

Leyard adopts generalized VR strategy as the company includes VR, AR and MR technology to its roadmap. The investment also expands Leyard’s audio, lighting and electronic technology and products to VR sector, integrating with existing VR, AR and MR area. The company has been investing in VR/AR industry for hundreds of million, including VR/AR hardware and display, VR/AR cultural innovation, VR/AR industrial applications, VR/AR content development and VR/AR industry support.

Leyard is the first manufacturer that launches small pitch LEDs TVs and has more accumulating experience in naked-eye 3D display, large virtual reality immersion.

The company has been keeping an eye of virtual reality technology since 2014. The digital light field augmented technology adopted by Magic Leap is the pioneering ultimate display technology in the area of virtual reality. The company will continue to invest in the R&D and collaboration of ultimate display technology. With the upgraded strategy being in place, Leyard takes advantages of more than one million distribution channels it built worldwide and in China for commercial application deployment. These are the channels Leyard will use to introduce Magic Leap products. Meanwhile, the company will become the pioneering service provider of commercialized VR technology.

Magic Leap’s R&D is still kept in secrecy as the product awaits market testing before launch. However, Rony,the founder of Magic Leap said the product is ready to be put in mass production. Leyard Hong Kong’s indirect investment in Magic Leap will pose no right to mediate the decision making of magic Leap. Meanwhile, the investment will not impact on Leyard Hong Kong’s operation and revenue.

Leyard noted that the investment in Magic Leap is a crucial deployment in ultimate display technology that accelerates the R&D of Leyard’s audio and visual development for VR technology and will boost the company’s competence in the area. Leyard will be able to profit by utilizing its own distribution channels to circulate products in China and other markets for commercial application after Magic Leap’s initial product launch.