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Starbreeze Drops StarVR Investment – Acer to Gain Majority Control

Starbreeze Drops StarVR Investment – Acer to Gain Majority Control

Starbreeze teamed up with Acer to bring the ambitious StarVR headset to life last year. The two companies signed on to split a $25 million investment to get the project off the ground, but according to reports, Starbreeze has decided to take a step back, and allow Acer to take majority control of the company by continuing its investment.

As of now, both companies have chipped in $10 million but with Starbreeze backing off, the remaining cash will now come from Acer, giving them majority stake in the company. It is clear that Starbreeze is not in the financial position it had projected by now, which seems to be the reasoning for all this.

By investing an additional $5 Million, Acer’s share in StarVR will jump to 66.7 percent. As a result, that will clear Starbreeze of its commitment to drop the remaining $7.5 million planned, but will also reduce Starbreeze’s ownership to 33.3 percent.

Starbreeze CEO, Bo Andersson Klint said in a statement: “Starbreeze remains fully dedicated to the field of VR, where we see great potential in the development of location-based VR that gives users access to premium VR experiences. We have pushed design and technical innovation to fruition in our StarVR collaboration with Acer. Starbreeze will continue to push innovation in the headset and focus on its core business – content. Our games and related premium VR experiences will primarily use the StarVR headset for location-based VR centres and we are eager to continue contributing to the success of StarVR.”

With Acer stepping up to the investment plate, and with Starbreeze still contributing their expertise, it seem like the StarVR project may still be around for a good while.