Vancouver wearables company Recon bought by Intel
Recon Instruments, creator of smart sports glasses and Vancouver’s answer to Google Glass, has been acquired by Intel.
Terms were not disclosed on the deal, which was announced Wednesday. Recon was launched in 2008, successfully spinning off technology developed at the University of B.C. The company created the first heads-up display for eyewear, even before Google Glass made its first appearance (Google Glass was later discontinued).
Recon, co-founded by CEO Dan Eisenhardt and chief technology officer Hamid Abdollahi, released its first consumer technology in ski and snowboard goggles that delivered GPS and other data to a tiny screen in front of the user’s eye.
Eisenhardt said becoming part of Intel gives Recon both the financial and technology resources to expand and develop its product line.
“It’s a huge milestone for all of us,” he said in a telephone interview.
Eisenhardt said Recon will remain in Vancouver.
“We’re continuing here in Vancouver. We’re going to be growing our team. We’re keeping our brand Recon and all our customers, partners, product lines remain intact,” he said.
“It’s really just, I think, enabling us to shift gears, accelerate product development and move into new markets.”
Intel Capital was among the funders of the company, which has raised $25 million in investment. Eisenhardt said the two companies had a “proven track record” working together.
“Having Intel Capital invest in Recon in 2013 was a big step towards what’s happened,” he said.
“I think once you get a strategic investment like that from a partner that is so well aligned with our platform and our goals in wearables, there’s a chance to check each other (out), get to know one another and find out what the synergies would be.”
Along with deep pockets, Intel brings its own tech to the table.
“On the technology side, it goes without question Intel is one of the most iconic technology companies in the world,” Eisenhardt said. “And now they’re also helping pioneer the wearables market. At Recon, we pioneered the heads-up display market. That’s the next frontier in wearables.”
Most recently, after an online fundraising campaign, Recon launched Recon Jet, glasses for biking and other sports that have a tiny display screen that’s the equivalent of a 30-inch screen viewed from two metres away.
The Recon Jet has a camera, built-in GPS and other sensors including an accelerometer, gyroscope, altimeter and barometer.
The Jet also has Bluetooth and Wi-Fi wireless connectivity and can be paired with a smartphone for text messages, caller ID and posting to social media.
“This acquisition gives Intel a talented, experienced wearable computing team that will help us expand the market for head-mounted display products and technologies,” Josh Walden, senior vice-president and general manager of Intel’s New Technology Group, said in a news release.
“Customers and retailers of Recon products can rest assured they’ll continue selling, enhancing and marketing their products under the Recon brand without disruption. The team will also partner with Intel’s New Devices Group to develop smart device platforms for a broader set of customers and market segments.”