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Optics for Hire Buys Actuality Assets

The patent portfolio and other assets of Actuality Systems, a Bedford, MA-based maker of visualization systems for medicine, oil and gas exploration, and other applications, has been acquired by Optics for Hire, the Arlington, MA, company announced December 28. Actuality launched in 1997 after winning the MIT $50K business plan competition; its flagship product, Perspecta, creates hologram-like images from 3-D digital data. As part of the acquisition, Actuality founder Gregg Favalora has taken a full-time position at Optics for Hire, which is a product development house specializing in lens design for lighting and medical devices and video games.

Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can e-mail him at wroush@xconomy.com, call him at 415-796-3024, or follow him on Twitter at twitter.com/wroush.

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