Ultraleap, the corporate behind the Leap Movement hand-tracking module, knowledgeable employees on Wednesday that it was proposing a layoff amid a possible restructuring of the enterprise that would see the corporate break up in two.
The Bristol, UK-based firm acquired Leap Movement in 2019, prompting a rebrand from its unique identify Ultrahaptics to Ultraleap. Previous to the acquisition, the corporate was finest recognized for pioneering its mid-air haptic know-how, which makes use of ultrasound to venture tactile sensations onto the person’s arms.
As reported by Sky Information, Ultraleap is allegedly now in search of to unload its hand-tracking enterprise solely, and spin out its mid-air haptics division into a brand new firm, which might be owned by Ultraleap’s current shareholders and likewise search further exterior funding.
The corporate hasn’t publicly confirmed the sale of Leap Movement or the specifics surrounding the restructuring of its haptics enterprise, nevertheless it has confirmed layoffs are coming:
“After a lot consideration, we now have made the troublesome determination to reshape a few of our divisions and scale back the scale of our crew,” an Ultraleap spokesperson informed Sky Information. “This determination has not been taken calmly, however it’s mandatory for us to adapt our enterprise to raised serve our market and our prospects.
Initially launched in 2013, Leap Movement was one of many first viable hand-tracking modules to return to market. Whereas it was initially created to work as an enter methodology for PCs, a number of years later the then nonetheless impartial firm would arduous pivot into the VR area, offering hand-tracking to headsets which on the time had none.
Quick-forward to at present, and plenty of standalone headsets pack in their very own onboard hand-tracking due to the requisite financial institution of optical sensors which are additionally used for monitoring the person in room-scale environments. The shift has made bespoke modules like Leap Movement much less fascinating for customers general, leaving the corporate to give attention to integrating its tech with boutique headset producers resembling Varjo, Pimax, and Vrgineers.
