Meta in Essilux with almost 3% share: worth EUR 3 billion
The development of smart glasses using new artificial intelligence technologies is in focus
2' min read
2' min read
Meta has bought a minority stake in Luxottica. This was reported by the Bloomberg news agency citing company sources, according to which Meta has less than 3 per cent, which is worth about USD 3.5 billion, just under EUR 3 billion
The investment represents a further strengthening of the partnership of Mark Zuckerberg's giant dedicated in particular to the development of smart glasses, which use new artificial intelligence technologies.
Menlo Park is considering further investments in EssilorLuxottica (which produces Ray-Ban) in order to increase its share to around 5% over time.
Meta's investment strengthens the ties between the two companies, which have allied in recent years to develop smart glasses. Indeed, in 2020, the then Facebook and EssilorLuxottica announced a multi-year collaboration on smart glasses, which then materialised with the first Ray-Ban branded connected glasses.
The investment also aligns with Zuckerberg's commitment to artificial intelligence, which has become Meta's top priority and largest expenditure.
