VANCOUVER, BRITISH COLUMBIA — Intel has acquired Recon Instruments, the Vancouver-based maker of smart glasses for outdoor and fitness enthusiasts, for a reported $175 million.
Intel’s venture capital unit had previously invested in the company in 2013.
Recon co-founder and CEO Dan Eisenhardt announced the deal in a blog on the company’s website, stating, “As part of Intel, we’ll have the resources to continue the mission we began with the creation of Recon in 2008, but with a level of efficacy and speed that’s beyond the reach of a pioneer in a new market. We’ll stay right here in Vancouver, and we’ll retain our talent, our brand, and our entrepreneurial spirit. Thanks to Intel, however, we’ll gain two very important strengths: We’ll have the resources to successfully grow. This growth will extend to our developer relations program, which will help us establish and sustain a strong app ecosystem. In addition, we’ll have the opportunity to draw from Intel’s extensive technology portfolio. As the world’s most successful semiconductor company, Intel has valuable technical resources and expertise to bring to the table.”
The deal is a departure for Intel in that the company will now be marketing a branded line of hardware products. However, it is not Intel’s first foray into eyewear. Last year, the company partnered with Luxottica to create Intel-powered smart glasses. Also, the company is supplying Google with processors to drive the first consumer iteration of Google Glass.