Intel expands market portfolio, bought 30% of smart eyewear-maker Vuzix stocks worth $24.8 million

Microprocessor giant Intel is poised to plunge in the potentially lucrative smart eyewear niche as it has already funneled in huge investments in the acquisition of eyewear producer Vuzix.

Intel has already whipped up its microprocessors in Google Glass and has also forged partnership with Luxotica to come up with cutting edge glasses and it is about time to expand further its presence in the market.

Vuzix disclosed that Intel has just acquired $24.8 million of its stocks which comprised 30% of the company.

Intel quipped that “the right to vote with the holders of Common Stock on an as-converted basis, and has the right to appoint two members to Vuzix’ Board of Directors, in addition to the Company’s current five members.”

Vuzix is renowned for showcasing M100 smart glass at the 2013 edition of the Consumer Electronics Show, and from then on, the device has been continuously upgraded. The most notable upgrade the M100 smart glass has received is the added offline support for its Nuance voice control feature and the ability to employ the Android-enabled glass with devices that run iOS.

In January 2013, the company had disclosed that it’s developing smart sunglasses that are cinched to be a must-have for many – an endeavor that will inevitably be profitable for Intel.

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