January 5, 2015
Company Now Owns 30 Percent of Smartwear Manufacturer
Intel is going outside.
The company, known for its Intel Inside slogan, has joined a handful of other companies that have branched off into the wearable market. Intel has been named as one of the new backers behind Vuzix Corporation’s ongoing development into Smart glasses.
Vuzix, via a company press release, announced Intel has made a $24.8-million investment. This means Intel now holds 30 percent of the company’s shares.
“Vuzix’ wearable display technology is focused on next generation optics and displays that have the potential to fit in fashion-based wearable glasses. Intel’s investment will be used for general working capital to accelerate the introduction of Vuzix next generation fashion-based wearable display products into the consumer market,” the press release stated.
This isn’t Intel’s first foray into Smartwear, though. The company’s processors are already in Google Glass and Intel teamed up with Luxottica to create high-tech glasses last year, Engadget reported.
Since being formed in 1997, Vuzix has continued working on personal display and wearables offering users high quality viewing experiences while also addressing the need for mobility. Currently, the company holds 39 patents with 10 more pending.
The company has won Consumer Electronics Show awards for innovation for the years 2005 to 2014 and several wireless technology innovation awards.
Vuzix is the creator of the M100 Smart glass that was showcased two years ago at the Consumer Electronics Show. That model has changed since then with the company upgrading it including offline support for the Nuance voice control feature. In addition, the device has the ability to use both Android and iOS powered gear.
W. Brice McVicar is a staff writer for SiteProNews.