SOURCE: Infinity Augmented Reality

January 28, 2014 07:00 ET

Infinity Augmented Reality, Inc. Announces Acquisition of Dynamic New Technology

Infinity AR Strengthens Strategic Position With Acquisition of 3D Sensing Technology

TEL AVIV, ISRAEL--(Marketwired - Jan 28, 2014) - Infinity Augmented Reality, Inc. ("Infinity Augmented Reality" or "Infinity AR") (OTCQB: ALSO), a leading innovator in augmented reality technology, developing software applications for future wearable and augmented reality devices, such as: Google Glass, Meta, Smartphones, Tablets and Smart TVs, announced today the acquisition of a unique and advanced 3D sensing technology, specifically targeted for augmented reality glasses.

The dynamic new 3D sensing technology is based on advanced indoor navigation techniques and SLAM (simultaneous localization and mapping, a technique used to build a map within an unknown environment or update a map within a known environment), and does not require any special setup or initialization. This unique technology allows for the placing of virtual objects on to an image of the real world, enabling interaction with the virtual objects as if they are a part of the physical world. Infinity AR is strategically positioned to provide new capabilities for this breakthrough technology, and has the resources to create innovative, imaginative functions for this futuristic platform.

Infinity AR's CEO Enon Landenberg says, "With the recent addition to our advisory board of Professor Steve Mann "The Father of Wearable Computers," pioneer in Augmented Reality who is also Chief Scientist at Meta, and now the exciting acquisition of this futuristic 3D sensing technology, Infinity AR has gained tremendous impetus and momentum in creating solutions and platforms for Google Glass and the entire realm of augmented reality. With our remarkable new technologies we are poised to burst through the threshold of what was once only dreamed of and what is now sure to become a reality. Technologically and financially our growth is limitless."

According to ABI Research, the market for wearable computers in the sports and health sectors alone will grow to nearly 170 million devices by 2017, an annual growth rate of 41 percent. Google Glass is expected to impact a vast spectrum of sectors contributing to the predicted $6 billion wearable computer industry by 2016 (IMS Research).

About Augmented Reality
Augmented reality is a medium in which real sensory inputs are enhanced, or augmented, with relevant digital information from the Internet. Using specially equipped eyewear, virtual images, video, and sound are superimposed for the user over what is actually seen and heard, heightening the real-life experience with additional information that is pertinent, informative, practical and entertaining. The individual user may also be fully immersed in a virtual world, temporarily blocking out real surroundings. With augmented reality, sensory inputs are no longer limited to what is within eyeshot or earshot, but may incorporate, in real-time, all that the network has to offer.

Augmented reality requires an interface, such as digitally-enhanced eyewear, that can instantaneously overlay virtual images and video on top of what is actually experienced. Companies like Google and Lumus are in the process of developing augmented reality glasses that will change the way users see and interact with the world. Infinity AR will utilize its augmented reality applications through these glasses and through other mobile devices including smart phones. As the individual changes his or her visual perspective the sights that are overlaid change accordingly. The eyewear incorporates audio speakers that add virtual sounds to the experience, as well as microphones that capture and interpret the user's spoken commands through speech recognition technology in order to summon desired information and actions. Further information on the Company is available at its website, www.infinityar.com.

Safe Harbor Forward-Looking Statements
Some statements in this release may be "forward-looking statements" for the purposes of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in our public filings with the Securities and Exchange Commission. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. We undertake no obligation to update these forward looking statements.

Contact Information

  • Contact:

    InfinityAugmented Reality, Inc.
    Enon Landenberg
    President and Chief Executive Officer
    (917) 677-2084
    Email Contact