Tuesday, March 5, 2024
Technology News

Meta acquires Netherlands based smart eyewear company Luxexcel

Meta, a leading company in the field of augmented reality (AR), has announced the acquisition of Luxexcel, a Dutch smart eyewear company specializing in 3D-printing prescription lenses for smart glasses. Luxexcel’s unique technology allows it to integrate the elements necessary for an AR experience directly into a prescription lens, including holographic film and projectors.

This acquisition will allow Meta to significantly expand its capabilities in the development of AR glasses, a market that is expected to reach $18.8 billion by 2025. In October, the company announced that it was working with luxury eyewear brand Ray-Ban to create a line of AR glasses.

According to Meta CEO Meron Gribetz, the acquisition of Luxexcel will allow the company to bring its AR glasses to market faster and at a lower cost. “We are thrilled to welcome Luxexcel to the Meta family,” Gribetz said in a statement. “Their expertise in 3D printing and prescription lenses will be invaluable as we work to bring our AR glasses to the masses.”

Luxexcel, which was founded in 2009, has a strong track record in the eyewear industry. The company’s proprietary technology, called VisionPlatform, allows it to 3D print prescription lenses on demand, eliminating the need for inventory and streamlining the production process. In addition to prescription lenses, the company also produces 3D-printed sunglasses and safety glasses.

The acquisition will allow Meta to tap into Luxexcel’s expertise in 3D printing and prescription lenses, as well as its established supply chain and partnerships in the eyewear industry. This will be particularly beneficial as the company looks to scale up production of its AR glasses and bring them to a wider audience.

The market for AR glasses is expected to grow significantly in the coming years, with applications ranging from gaming and entertainment to military training and medical education. Meta’s acquisition of Luxexcel positions the company at the forefront of this growing market, and it is well positioned to capitalize on the increasing demand for AR technology.

With the addition of Luxexcel, Meta will have a strong foundation on which to build its AR glasses business, and the company is well positioned to become a leader in the field. The acquisition is a smart move for Meta, and it is sure to be a key factor in the company’s future success.