Intel is betting $25 million on smart eyewear-maker Vuzix

January 4th, 2015, 20:36 Posted By: wraggster

Intel clearly sees big potential in the smart eyewear market. In addition to putting its processors in Google Glass and teaming up with Luxottica to create high-tech glasses, it has now invested major cash in internet-connected eyewear-maker Vuzix. According to Vuzix, Intel has just bought $24.8 million of its stocks making up 30 percent of the company. The chipmaker hasn't replied to our request for a statement yet, but the companies' press release says Intel will have "the right to vote with the holders of Common Stock on an as-converted basis, and has the right to appoint two members to Vuzix' Board of Directors, in addition to the Company's current five members. "

http://www.engadget.com/2015/01/03/i...ix-investment/

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