Meta Platforms has acquired a minority stake, just under 3%, in EssilorLuxottica SA, the world’s largest eyewear manufacturer and maker of Ray-Ban glasses. This investment, estimated at around EUR 3 billion ($3.5 billion), signals Meta’s deepening commitment to the burgeoning smart glasses market. Sources familiar with the matter, who requested anonymity, disclosed the information. The move suggests Meta, the parent company of Facebook, is strategically positioning itself in the hardware sector, particularly within the fast-evolving realm of wearable technology. This acquisition may pave the way for further collaborations and innovations in the development of smart glasses, potentially integrating Meta’s software and technologies with EssilorLuxottica’s eyewear expertise.
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Meta Invests $3.5 Billion in Ray-Ban Maker EssilorLuxottica in AI Glasses Push
Meta Platforms has acquired a minority stake, just under 3%, in EssilorLuxottica SA, the world’s largest eyewear manufacturer and maker of Ray-Ban glasses. This investment, estimated at around EUR 3 billion ($3.5 billion), signals Meta’s deepening commitment to the burgeoning smart glasses market. Sources familiar with the matter, who requested anonymity, disclosed the information. The move suggests Meta, the parent company of Facebook, is strategically positioning itself in the hardware sector, particularly within the fast-evolving realm of wearable technology. This acquisition may pave the way for further collaborations and innovations in the development of smart glasses, potentially integrating Meta’s software and technologies with EssilorLuxottica’s eyewear expertise.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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