Tech

Meta Acquires ImagineOptix For Undisclosed Amount

Meta Acquires ImagineOptix For Undisclosed Amount

According to the Information, Meta Platforms Inc (NASDAQ: FB) has bought ImagineOptix.

The transaction’s financial specifics have yet to be revealed.

ImagineOptix is a North Carolina-based company that specializes in liquid crystal lenses, which could help VR headsets get smaller. With 2.5 billion monthly active users, Meta, previously Facebook, is the world’s largest online social network.

ImagineOptix specializes in producing high-resolution screens for products such as virtual reality headsets.

This technology, according to reports, makes headsets lighter, lowers eye strain, and adjusts focus based on prescription.

Valve, another Oculus competitor, had already invested in the firm before Meta purchased it.

Meta was recently investigated by the Federal Trade Commission (FTC) for its $400 million purchase of the fitness game Supernatural.

ImagineOptix, which was founded in 2004, makes thinner, lighter, and more efficient optics that enable lifelike, seamless AR and VR experiences. The firm’s linear photopolymerization, or LCP, optics are composed of micron-thick layers, resulting in the thinnest, lightest goods available for consumer use.

Related:  Reddit Incorporates Real-time Typing and Comment Indicators Tools

According to the company, the ImagineOptix LCP optics create continuous phase profiles with the highest efficiency possible, maximizing battery life and enabling applications not possible with other optics technology. The LCP optics also supports a variety of wide-angle, high uniformity waveguides and complex aspherical lenses.

The company includes design and manufacturing facilities that can help with everything from development to mass production, including custom-designed roll-to-roll volume production for LCP optics.

Price Action: On the last check on Wednesday, FB shares were trading 1.37 percent down at $329.61.

The Author

Oladotun Olayemi

Dotun is a financial enthusiast who specializes in first-in-class financial content, including crypto, blockchain, market, and business, to educate and inform readers.