Meta Platforms has bought a minority stake in the world’s largest eyewear manufacturer, EssilorLuxottica, deepening the tech giant’s commitment to the smart glasses industry.
The Facebook parent company acquired just under 3% of EssilorLuxottica, a stake worth around US$3.5 billion, reported Bloomberg.
Earlier this year, the partners extended their range of AI-performance powered eyewear with the release of Oakley Meta. Building on the success of Ray-Ban Meta, Oakley Meta is packed with key tech improvements including higher and clearer resolution, seamlessly integrated open-ear speakers, longer battery life and more, said EssilorLuxottica, adding consumers will also be able to fit their Oakley Meta glasses with Oakley’s Prizm lens technology.
