Tekcapital will pay for the licence through the issue of 479,060 new shares to the university, and will provide a portion of future revenue generated from the portfolio.
The patents enable the development of miniature high-resolution, head-mounted projection displays with eye tracking.
Tekcapital said the patents are suitable for collaborative augmented reality applications, and are able to support a wide range of consumer, medical, military and industrial applications.
The patent portfolio enables design trade-offs between packaging, illumination, field of view and resolution for augmented reality (AR) / virtual reality head-mounted projected displays, the AIM-listed firm added.
The directors of Tekcapital believe this technology portfolio represents an important intellectual property opportunity with the potential for market adoption across multiple sectors via licensing, and reckons that AR glasses could eventually replace hand-held devices as the touchscreen interface of choice for many applications.
"We are excited to have acquired the exclusive licence to this important portfolio of patents from the University of Central Florida and we look forward to commercialising this technology with forward-thinking technology companies that can benefit from improving their products with these advanced optical technologies," said Dr Clifford Gross, executive chairman of Tekcapital.
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