Green Tree-based camera company 360fly has signed a letter of intent with VSN Mobil to purchase assets, intellectual property and personnel connected to the company's 360-degree camera operations.
The financial terms of the deal were not disclosed but a news release said the deal includes 24 engineers who will become part of the 360fly team.
“We're very pleased to be pursuing this direction with VSN. There are a lot of synergies between our two companies, and the work we’re doing around 360-degree video, virtual reality, and even more advanced applications of our technology,” said Peter Adderton, CEO of 360fly Inc. in a news release.
VSN is based in Fort Lauderdale, Fla.
Deborah M. Todd: dtodd@post-gazette.com, 412-263-1652 or Twitter: @deborahtodd.
First Published: July 1, 2015, 6:10 p.m.
