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beats in ear headphones backed tech company Magic Leap gets noted CFO

beats headphones dre backed tech company Magic Leap gets noted CFO

Magic Leap, the South Florida tech company that recently secured a $542 million investment by a group led by Google, has named a tech finance heavyweight as its new chief financial officer.

Joining the Dania Beach based company is Scott Henry, who has held CFO roles at Beats Music and Beats by Dr. Dre.

Henry helped Beats transition from a licensing company to an independent global manufacturer. He then helped Beats launch its branded music streaming service and sell to Apple for $3 billion earlier this year, a statement said.

Before Beats, Henry was CFO at companies including Borders Group and Las Vegas Sands and earlier had worked as an investment banker for ING, Prudential Securities and Salomon Brothers.

The proceeds, announced Tuesday, will be used to accelerate product development and commercialize what it describes as its “proprietary mobile wearable system.”.

(Marcia Heroux Pounds)

The company is the brainchild of Rony Abovitz, the former chief visionary officer and co founder of Davie based Mako Surgical. Abovitz and his team sold Mako Surgical to Stryker Corp. for $1.65 billion in 2013.

“Magic Leap is going beyond the current perception of mobile computing, augmented reality and virtual reality. We are transcending all three and will revolutionize the way people communicate, purchase, learn, share and play,” founder and chief executive Abovitz has said, providing little detail.

In October, Magic Leap received a $542 million investment led by Google, with participation from Qualcomm, Legendary Entertainment, KKR, Vulcan Capital, Kleiner Perkins Caufield Byers, Andreessen Horowitz, Obvious Ventures and other investors.
beats in ear headphones backed tech company Magic Leap gets noted CFO