CTRL-labs will transition into Facebook’s Reality Labs division that is working to create augmented-reality smart glasses.
The startup has been developing technology that allows individuals to use a wristband to control their devices. According to Facebook’s Vice President of Augmented Reality and Virtual Reality Andrew Bosworth, the wristband decodes neurons in a user’s spinal cord and translates them into digital signals that the device understands.
The deal, which was announced Sept. 23, was between $500 million and $1 billion, sources familiar with the matter told CNBC. One Facebook spokesperson confirmed it was less than $1 billion.
Facebook has been investing in brain-computing technology since 2016.
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