Vuzix has told the world+dog that the small time chipmaker Intel has invested $24.8 million in the company to speed up the launch of its internet-connected specs.
Intel bought preferred stock that is convertible into common shares equivalent to 30 percent of Vuzix, Vuzix said in a press release.
New York-based Vuzix develops computerised, internet-connected glasses and other video eyewear aimed at consumers, businesses and entertainment. Intel is dead keen to get its foot in the door of such market having been too late into the smartphones and tablets fad.
It is the second big deal to be announced in a month. In December, Italy’s Luxottica said it was joining forces with the US chipmaker to develop glasses that combine its top fashion brands with technology that could allow wearers to access information about their health or location.
Intel has also teamed up with watch retailer Fossil and fashion brand Opening Ceremony to develop wearable devices such as fashion bracelets with communications features and wireless charging.
It is all early days yet, but it seems that Intel is preparing the ground.
