Ostendo Technologies, Inc. and Veea Inc. to Merge
Companies with Shared Values, Complementary Technologies will change the way the world Perceives information
One of our PE portfolio company, VEEA, is excited to announce the signing of a letter of intent to combine Ostendo's foundational quantum technologies and wearable display assets with VEEA's leading smart edge connectivity business to create a first of its kind, standalone company. The combined companies will create a new paradigm for hyperconverged wireless solutions and a revolutionary solution for enabling Web3 capabilities for ambient interaction between people, places and things.
The companies expect the transaction will offer breakthrough solutions that are currently lacking due to integration, networking, latency and maintenance challenges, costs and other factors by:
Uniting complementary and diverse pioneering technologies – Ostendo’s advanced split manufacturing capabilities and visual interface products with Veea’s next generation edge computing and connectivity would deliver completely new ways of interacting with visual data to the consumers and enterprises alike with highly rewarding user experiences.
Offering globally in the fast-growing edge and spatial computing businesses a highly differentiated unified solution that integrates Veea’s edge computing platform, that is both cloud- and locally-managed, together with a totally wireless and truly wearable visual interface initially in the form of Augmented Reality (AR) glasses that resemble our reading or sun glasses without any sensory discomfort for daily use.
Forming a new company, with highly experienced leadership and engineering teams, that will own one of the deepest spatial and edge computing patent portfolios in the world with nearly 500 worldwide patent applications filed and over 100 trade secrets.
Companys' websites:
News on Veea and Ostendo merger:
https://www.veea.com/news/ostendo-and-veea-merger