September 24, 2019
(Reuters) – Facebook Inc <FB.O> said on Monday it bought New York-based CTRL-labs, a start-up that is exploring ways for people to communicate with computers using brain signals, in a deal that CNBC was valued at $1 billion.
Facebook Vice President of AR/VR Andrew Bosworth announced the deal in a Facebook post.
CTRL-labs will join Facebook Reality Labs team, Bosworth said, without giving any financial details.
Media reports said CTRL-labs is working with brain science and machine learning to create interfaces for people to control and manipulate computers by thinking. Its development-stage wrist-worn device uses sensors to track gestures and would act as an input device.
The deal is valued at about $1 billion, CNBC reported, citing a source familiar with the matter.
Facebook was not immediately available for comment on the deal value.
(Reporting by Sathvik N in Bengaluru; Editing by Cynthia Osterman)