Motion detection technology firm 3DV is now entering a sales agreement with an unnamed third party, thought to be Microsoft.
For weeks speculation has mounted that Microsoft will be purchasing the Israeli digital camera technology company for around $34 million, though the platform holder has declined to comment on the matter.
3DV holding company Elron Electronics yesterday announced that it had "entered into a definitive agreement for the sale of substantially all of its assets to a third party." This sale transaction is expected to close by the second quarter of 2009.
3DV has been designing its camera technologies for some time; its ZCams are said to be a far more accurate version of Sony's EyeToy, due to the fact that the devices can interpret how far away a subject is from its lens. The technology had reportedly been used in "advanced defense systems", and has already been described as superior - in terms of accuracy - to the Wii Remote.
Elron holds a 43% stake of 3DV systems both directly and through subsidiary firm RDC.
"Pursuant to the terms of the definitive agreement, following the payment of certain expenses, proceeds to be distributed to each of Elron and RDC is expected to be up to approximately $3 million and $4 million, respectively," said the firm.
Since the deal hasn't been fully cemented, Elron added that there's currently "no assurance" that the transaction will be completed.
Article supplied by Edge-Online