Despite losing billions of dollars, Meta hasn’t given up on its Metaverse ambitions. Last year, Reality Labs’ Metaverse division lost him over $9 billion in the first nine months. Losses like this and a shift in meta direction as a company have eroded investor confidence. Also, the company’s stock has suffered, falling 64% over the past year. Still, Mark Zuckerberg isn’t going to give up on his Metaverse dream. He continues to fund the project.
The latest news is Luxelis a European company that deals in 3D printed prescription lenses. The company needs help with his two core technologies in the Metaverse: Meta’s virtual reality and augmented reality (VR/AR) efforts.
The deal was first reported by the Belgian newspaper De Tijd. However, the details of the deal are unknown. Neither of the two companies involved have disclosed their numbers.
Ryan Moore, Head of Financial Communications at Meta Platforms, said in a statement: “We are thrilled that the Luxexcel team will join Meta and deepen the existing partnership between our two companies.”
Luxexcel has yet to reveal the acquisition on its official website or social media accounts. The company is based in the Netherlands and started operations in 2009.
The company claims to be a pioneer in the 3D printing business and holds multiple patents for creating prescription lenses. This is true for conventional and smart lenses.
By acquiring Luxexcel, Meta is clearly aiming to make AR/VR devices more affordable for users. Luxexcel estimates that the majority of the population uses prescription lenses. Smart eyewear therefore appears to be a good fit for individuals looking to improve their vision.
The acquisition comes at a time when Meta faces scrutiny over other actions.recently acquired internal, a VR fitness company — a move disputed by the FTC. This agency seeks to stop Meta from building a virtual reality empire by snapping all early-stage projects in space.
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