Author : Mark

Date : Jan 05,2023

The deal was initially covered by the Belgian newspaper De Tijd, but the specifics of the deal are unknown

Despite suffering losses in the billions, Meta is continuing to pursue its goal of creating a Metaverse. The Metaverse business of Reality Labs lost nearly $9 billion in the first nine months of last year. Investor trust has been harmed by these losses and the company's change in strategy. Additionally, the company's shares have taken a hit, falling 64% in the last year. Mark Zuckerberg isn't going to give up on his idea of the Metaverse, though. He continues to invest money in the initiative.

The most recent information concerns the purchase of Luxexcel, a business that deals in 3D-printed corrective glasses. The business ought to support Meta's efforts in virtual and augmented reality (VR/AR), two essential metaverse technologies.

The deal was initially covered by the Belgian newspaper De Tijd, but the specifics of the deal are unknown. Furthermore, neither of the two companies involved has made the figures public.

We're thrilled that the Luxexcel team has joined Meta, expanding the existing cooperation between the two firms, says Ryan Moore, head of finance communications at Meta Platforms.

The acquisition has not yet been announced by Luxexcel on its official website or social media platforms. The business, which has a Dutch base, started operating in 2009.

It views itself as a pioneer in the field of 3D printing and holds many patents related to the production of corrective lenses. This applies to both conventional and cutting-edge lenses.

What Role Does Luxexcel Play in the AR/VR Future of Meta?

It is evident from the acquisition of Luxexcel that Meta wants to lower the cost of AR/VR equipment for consumers. According to Luxexcel, a sizable portion of people wear prescription lenses. As a result, smart eyewear seems appropriate for people who want to improve their vision.

The purchase occurs as Meta is being criticized for its previous activities. It recently bought Within, a VR fitness firm; the FTC has objected to this action. The institution is acquiring all early-stage projects in the field in an effort to prevent Meta from creating a virtual reality empire.