Meta Acquires Smart Eyewear Producer Luxexcel

Business Technology

Meta, the parent company of Facebook, has bought Luxexcel, a Dutch company that makes smart eyewear. A spokesperson for Meta said that they are excited that the Luxexcel team has joined Meta, which deepens the existing partnership between the two companies. The financial terms of the deal were not made public by the company.

Luxexcel, which was established in 2009, began as a manufacturer of prescription lenses. The company has established itself in the augmented reality industry more recently. According to reports, Luxexcel and Meta have reportedly previously collaborated on Meta’s Project Aria augmented reality glasses.

The acquisition comes at a time when Meta is under regulatory scrutiny from the Federal Trade Commission regarding its acquisition of the developer of Supernatural, Within. Meta was sued by the agency in July to stop the deal.

The social media giant is also being criticized for the amount of money it spends to advance its metaverse goals. Meta informed investors in October 2022, a month before the company laid off 11,000 employees, that its virtual and augmented reality division, Reality Labs, would lose more than 9 billion dollars in 2022. It went on to say that operating losses for the division would probably grow significantly year-over-year in 2023.

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