Monday, October 1, 2012

JAKKS Pacific, NantWorks In Toy Joint Venture

Los Angeles-based NantWorks, the technology incubation and investment firm run by billionaire Patrick Soon-Shiong, and Malibu-based toy firm JAKKS Pacific announced this morning that the two are in a join venture to create anew company, DreamPlay Toys. The two said the joint venture will develop, market, and sell toys and consumer products using image recognition technology from Nantworks. Financial details of the joint venture were not announced. The two said the deal will create toys which will link to smart phones or tablet devices. Software on those phones and tablets will recognize those toys, and then allows users to interact with those toys and content.