Tuesday, July 17, 2012
NantWorks, JAKKS Pacific Tie On Interactive Toy Venture
Los Angeles-based technology thinktank NantWorks, which is owned by Los Angeles billionaire Dr. Patrick Soon-Shiong, and Malibu toy manufacturer JAKKS Pacific have signed a letter of intent to create a new joint venture around next generation, interactive toys, the two said this morning. The two said the new venture, DreamPlay Toys, will develop, market, and sell toys incorporate NantWorks proprietary image recognition technology. Financial details of the LOI were not announced. The two said it expects to have first examples of the toys in October, at the International Toy Fair. The two companies said that NantWorks new image recognition technology will allow children to "active" toys and interact with smart phones and tablets.