SOURCE: kitguru.netIntel Corp. has acquired a stake in Vuzix, a major maker of smart eyewear and virtual reality hardware. The move will allow Vuzix to boost spending on development of Internet-connected glasses akin to Google Glass. The investment will also ensure that the forthcoming devices from Vuzix use Intel system-on-chips, something Intel clearly needs.
Under the terms of the agreement between Intel and Vuzix, the former will invest a total of $24.813 million in the latter. Intel will own a 30 per cent stake in Vuzix. In addition, the companies also agreed to sign a collaborative development agreement in the next 45 days. Pursuant to the agreement, the parties will co-design certain products and technologies; in addition, Intel will become a lead partner in commercializing such technologies in certain markets to be agreed upon.