Some consolidation is afoot in the world of virtual reality. MindMaze, a startup based out of Switzerland that has been building a VR platform to map and respond to brain activity for applications in healthcare and other fields, is making its first acquisition: Gait Up, a developer of motion analytics used in smart watches and other hardware.
Terms of the deal are not being disclosed, MindMaze’s CEO and founder Tej Tadi said in an interview. Gait Up was bootstrapped and generating revenue and had an interesting list of customers and partners, including -Logitech, the Swatch group, Hitachi, Philips, Salomon, PIQ, BNP Paribas group, Jaguar Land Rover and Pomoca.
The company’s 10 or so employees will be joining MindMaze as part of the deal, and Gait Up will continue to serve its existing customers for the rest of this year before gradually working to integrate its tech with that of MindMaze’s to expand its platform to bring in more diagnostics and data.
“From the research we began 15 years ago, our vision has been to change the way we measure and make sense of human motion,” said Benoit Mariani, CEO and co-founder of Gait Up in a statement. “Adding our motion tracking technology to MindMaze’s suite of solutions creates exciting new possibilities for industries far beyond our healthcare roots.”
The acquisition comes at a time when MindMaze has seen some interesting developments of its own. Earlier this year, the company received FDA approval in the U.S. so that it can start to sell its technology to healthcare organizations in that country.