Meta acquires Luxexcel, a smart glasses company • businessroundups.org

As Meta faces antitrust scrutiny over its acquisition of VR fitness developers Within, the tech giant is making another acquisition. Meta confirmed to businessroundups.org that it is buying Luxury Excel, a smart glasses company headquartered in the Netherlands. The terms of the deal, which was first reported in the Belgian newspaper De Tijd, have not been disclosed.

Founded in 2009, Luxexcel uses 3D printing to create prescription lenses. More recently, the company has focused its efforts on smart lenses, which can be printed using integrated technology such as LCD screens and holographic film.

“We are pleased that the Luxexcel team has joined Meta, deepening the existing partnership between the two companies,” a Meta spokesperson told businessroundups.org. To be rumours on which Meta and Luxexcel had already collaborated Project Arithe company’s augmented reality (AR) research initiative.

In September 2021, Meta unveiled the Ray-Ban Stories, smart glasses that can take photos and videos, or make hands-free, voice-enabled calls using Meta platforms such as WhatsApp and Facebook. By including Luxexcel, Meta will likely use the company’s technology to produce prescription AR glasses, a product long expected to emerge from Meta’s multibillion-dollar investment in its Reality Labs. However, a report this summer said that Meta was scaling back its plans for consumer AR glasses, which were initially slated for 2024. Meta did not comment on these rumors at the time.

In building its AR and VR products, Meta’s business strategy has been to acquire smaller companies building top technology in the field. Even Meta’s flagship headset, the Quest, comes from its 2014 acquisition of Oculus. Given the FTC’s attempts to block Meta’s purchase of Within, it’s possible that Luxexcel’s purchase could lead to the same investigation.