Posted by Jim Connolly on June 22, 2015
One way to forecast the direction a market is likely to go, is to follow the smart money. Well, last week an acquisition happened within the wearable technology sector, which supports my belief that smart sunglasses and smart eyewear in general are going to be huge.
Allow me to explain.
Computer hardware giant, Intel, has acquired Recon Instruments. If you have not heard of Recon Instruments, they are the smart folks behind the technology used in Oakley’s Airwave. They are also the creators of the impressive Recon Jet wearable device, which I wrote about a while ago in this post.
Intel and Recon Instruments had already worked together for a couple of years. Back in September 2013, Intel Capital, (which is Intel’s venture capital arm), invested in Recon Instruments. Though we’re not sure what Intel’s initial investment was, the technology giant’s acquisition of Recon Instruments is reported to be $175 million.
One of the reasons I believe Intel has made this acquisition, is that Recon Instruments have produced wearable technology, most notably their Recon Jet smart glasses, which are platform independent. Most smart sunglasses and smart eyewear in general, needs to be connected to a smartphone. The smartphone is what does most of the heavy lifting. This ties the device to the whims of the smartphone manufacturer. This is not an issue with Recon Instruments, which is capable of installing all the technology required, into their device -- as they impressively demonstrated with their Recon Jets.
This acquisition is not only a huge deal for both businesses, it also sends a powerful, positive message to the wearables sector as a whole. It shows that some very smart people are betting heavily on wearables — the kind of people who make very smart investments.
I believe we can all look forward to some interesting new devices from the technology giant.
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