Magic Leap acquires NorthBit - Report

Magic Leap is putting its massive warchest to use. According to a Geektime report, the augmented reality company has acquired Israel-based cybersecurity firm NorthBit.

Founded in 2012, NorthBit specializes in computer forensics, reverse engineering, and CPU/memory optimizations. It also made some headlines last month when it demonstrated a new Stagefright exploit for Android devices that would allow the remote hacking of smartphones running older versions of the OS.

The cost of the acquisition was not disclosed. In February, Magic Leap raised $793.5 million in Series C funding, following up on the $592 million raised in previous funding rounds.

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