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Starbreeze AB and Acer have announced that a new capitalization plan has been agreed for the StarVR – the joint venture for marketing and sales of the StarVR Virtual Reality (VR) headset. Under the new agreement, Acer will inject US$5 million into the joint venture and increase its interest to 66.7%. Starbreeze will be relieved from its remaining capital commitment of US$7.5 million and its interest will be 33.3%.
The joint venture, originally announced June 25, 2016, was created with a capitalization plan of up to US$25 million to be shared equally between Starbreeze and Acer through capital injections on a set schedule. As of today, a total of US$10 million has been injected into the company in equal amounts by the two parties.
Under the new arrangement, Acer will provide a capital injection of US$5 million into the joint venture. No further capital injections have been agreed, but the parties are proceeding in their support of the joint venture. As majority owner Acer will be able to facilitate future financing for StarVR should further capital needs arise.
Starbreeze continues to hold StarVR-related intellectual property rights, including patents and trademarks related to InfinitEye, StarVR (headset), ePawn and the StarVR SDK. Acer continues to hold patents related to electrical engineering, mechanical design and ergonomics that are used in the headset. R&D and reference design for the StarVR headset will also be carried out by Starbreeze and Acer going forward.
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