The HN discussion from when the sale was announced [0] might be of interest. It definitely didn't sound like a company being bought for the product, and might not even have been an acquihire.
It was a patent acquisition. North had originally purchased patents from Intel when they abandoned their Vaunt project. [0]. From what I've been told the reason they are shutting down the existing glasses is because they won't be hiring from the company. The founders were also not hired as part of the deal.
[0] https://news.ycombinator.com/item?id=23690967