Facebook is buying CTRL-labs, a NY-based startup building an armband that translates movement and the wearer’s neural impulses into digital input signals, a company spokesperson tells TechCrunch.
CTRL-labs raised $67 million according to Crunchbase. The startup’s investors include GV, Lux Capital, Amazon’s Alexa Fund, Spark Capital and Founders Fund, among others. Facebook didn’t disclose how much they paid for the startup, but we’re digging around.
Update: Bloomberg pegs the deal between $500 million and $1 billion. A source close to the matter tells TechCrunch the same.
The acquisition, which has not yet closed, will bring the startup into the company’s Facebook Reality Labs division. CTRL-labs’ CEO and co-founder Thomas Reardon, a veteran technologist whose accolades include founding the team at Microsoft that built Internet Explorer, will be joining Facebook, while CTRL-labs’ employees will have the option to do the same, we are told.
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