Intel has signed a definitive agreement to acquire Replay Technologies. Details of the transaction were not disclosed but was reported on the Intel blog. The chatter put the purchase price at around $175 million
OurCrowd CEO Jon Medved, whose firm participated in Replay Technologies Series B financing round commented on the acquisition;
“We are delighted with today’s news about the Intel acquisition of Replay Technology. This is good news for Replay and its investors and for Intel. We believe that together Replay and Intel will create even more excitement in the fast growing area of sports technology.”
Replay Technologies, founded in 2011 and based in Israel, has created video technology that provides the most impressive 3D experience for live sports available today. Replay’s proprietary “freeD Format” leverages high-resolution cameras and powerful computer graphics to render an immersive visulization that provides 360° Matrix movie type viewing experience. The technology is the coolest video experience developed in decades. Just watch the video below.
Replay Technologies raised capital on OurCrowd in late 2015. The equity crowdfunding round closed fully funded at over $2.2 million. Co-founded by Oren Yogev, Matteo Shapira and Aviv Shapira, Replay Technologies has established relationships with a multitude of major sports brands like the NFL, NBA, MLB and more. Replay generated over $7.4 million in revenue for 2015. Mark Cuban, Dallas Mavericks owner (and Replay client/investor), is quoted on the Replay site;
“The Replay Technologies’ freeD system gives us the option to broadcast Mavs games with more unique angles, which in-turn gives viewers never before seen insight into the game.”
— Cuban Center (@CubanCenter) February 25, 2016
Intel explained their intent to scale the new technology in what they call “immersive sports” for leagues and venues around the world. As part of Intel, the team will work together to provide faster / better “freeD” processing. The service will strive to add new features such as better manipulation and editing. Intel is also interested in the emerging virtual reality sector. The acquisition should help boost their strategic initiative into the 3D space. Intel said of the acquisition, “we’re just getting started”.
For investors that had the fortune to join into the offer via equity crowdfunding platform OurCrowd, while specifics have not been revealed, you can be certain there was a solid gain. This is the 5th exit for the global investment crowdfunding platform and is an important validation of the crowdfunding process.
OurCrowd combines exceptional access to compelling investment opportunities for highly vetted, early stage global companies. OurCrowd invests in every single deal listed on their platform providing further validation of their commitment to align with investors.
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