Two companies that have been working to revolutionize edge devices and computing have signed a letter of intent to combine their technologies into one powerful solution, according to a recent release. Veea and Ostendo announced Feb 26 that they will merge Ostendo’s quantum technologies and wearable display assets with Veea’s smart edge connectivity business to create a new company offering wireless solutions and Web3 capabilities to enhance and enable IoT systems.
The first venture for the new company will be to leverage their expertise to create comfortable, powerful Augmented Reality glasses usable for enterprise and industrial operations, and for consumer use. Ostendo’s split manufacturing capabilities and visual interface products reportedly will be paired with Veea’s edge computing and connectivity with the goal of creating a best-in-class user experience and powerful functionality.
“We are excited about the opportunities this merger will create for our worldwide customers, our partners and our employees,” said Dr. Hussein S. El-Ghoroury of Ostendo. “Together we will solve the problem of the last 50 meters and the last 3 centimeters—changing how and what we see in our daily interactions with information, the real world and the people around us.”
The combined companies said they will accelerate plans to commercialize the combination of Ostendo’s wearable display products and the Veea Edge Platform. Ostendo’s products are powered by the company’s Quantum Photonic Imager (QPI), which is the world’s first and only full-color sub-10 micron μLED display-on-chip, according to the release. Veea brings its edge computing hub that extends the cloud to the edge via a network solution that incorporates any wired or wireless connectivity with distributed network storage, enterprise-grade security, a developer portal, and managed services. This new company will, in all, own one of the deepest spatial and edge computing patent portfolios in the world with nearly 500 worldwide patent applications filed and more than 100 trade secrets.
“Veea’s edge platform and.. Ostendo’s breakthrough AR glasses will significantly augment and enhance Human Machine Interface with a contextual digital overlay of the world, that can be comfortably and fashionably worn throughout the day,” Allen Salmasi of Veea, said in the release. “Eventually, [we] will enable the users of Ostendo’s AR glasses to readily access highly unique Web3 applications such as DTube, Storj, Livepeer, Sola, DiFi, GameFi, most conveniently and securely make payments and conduct banking services, and much more.”
Veea will be at Mobile World Congress in Barcelona from February 27 – March 2, available for briefings and interviews in Meeting Room 7G73MR, located in Hall 7.
