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Monday, 23 September 2019

Facebook to buy brain science start-up CTRL-labs

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)

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