Intel is joining the hordes of tech companies hopping on the augmented reality bandwagon by snapping up a 30% stake in the smart-glasses manufacturer Vuzix.
Source: www.fastcompany.com
The U.S.-based chip-builder has shelled out $24.8 million in an attempt to position itself on the cutting edge of the wearables industry.
The cash injection was announced this week at the Consumer Electronics Show in Las Vegas, where Vuzix is exhibiting new products, including a pair of video glasses designed to ship with the Nvidia Shield handheld gaming device.
In addition to stock in the company, Intel’s investment allows it to appoint two added members to the company’s board of five directors. According to Vuzix, the money will allow it to "accelerate the introduction of next generation fashion-based wearable display products into the consumer market."
Intel has been interested in wearables for a while. In addition to incorporating its processors into Google Glass, and partnering with Luxottica to build high-tech glasses, this 30% stake in Vuzix gives Intel an added foothold in the nascent—but very exciting—smart-glasses industry.
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