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Published 3 junio 2019
International law firm DAC Beachcroft is pleased to have advised Bristol-based mid-air haptic company Ultrahaptics on its acquisition of the San Francisco-based virtual-reality startup Leap Motion. The deal, announced on 30 May 2019, will see the creation of the world’s leading spatial interaction company.
Founded in 2013, Ultrahaptics has developed patented “virtual touch” technology that uses ultrasound to project shapes and textures directly onto a user’s hands. The company currently works with blue-chip clients across markets including automotive, digital signage and location-based entertainment.
Leap Motion is the world leader in hand-tracking technology and develops and licenses sensors for gesture-tracking technology used in virtual-reality and augmented-reality experiences.
DAC Beachcroft’s Corporate and Intellectual Property partners Mike Pearce and Andrew Allan-Jones advised on the corporate and intellectual property aspects of the deal, with support from associate Charlotte Laband and a team of lawyers from the firm’s Business Advisory Group. Partner and Head of Banking and Finance Chris Wall advised on the finance aspects of the deal’s structure.
Andrew Allan-Jones said, “We are delighted to have supported Ultrahaptics on what will no doubt be a transformative deal for the business. Combining the teams and technologies of these two companies will enable them to accelerate innovation, enhance the commercial applications of their tech, and develop new products to meet their clients’ needs.”
Steve Cliffe, CEO of Ultrahaptics, said, “We are building a company to support the changes between human and machine interaction that will define the 21st century. With this deal, we will be better placed to leverage our customer contacts and expand the vertical stack of immersive technologies, just as the applications which benefit from our collective strengths are moving into the mainstream. We are grateful to the team at DAC Beachcroft for their guidance and advice on making this deal happen.”
DAC Beachcroft boasts a 50-strong national team of specialist technology lawyers. Its integrated team of technology, commercial, corporate and sector specialists advises scale-ups through to established technology businesses on everything from corporate, intellectual property, financing, tax and employment issues, through to product development, regulatory issues, licensing, leasing and litigation.