AT&T Joins Roster of Magic Leap Investors Ahead of Product Debut
- John Donovan will join AR startup’s board as an observer
- AT&T becomes “exclusive wireless distributor” in U.S.
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AT&T Inc. said it’s investing in Magic Leap Inc., the augmented reality headset startup, forming a partnership that will also make it the “exclusive wireless distributor” for Magic Leap products in the U.S.
Financial terms of the deal were not disclosed, but a spokesperson for Magic Leap said AT&T’s investment completes the company’s latest fundraising round, which the company said in March totaled $963 million. Magic Leap has raised more than $2.3 billion overall and has been valued at more than $6 billion.