Intel Buys Recon Instruments In Move To Expand Into Wearables Technology
Intel, in a savvy move that will help the chipmaker expand into the potentially lucrative smart wearables and Internet-of-Things arenas, this week acquired Recon Instruments for an undisclosed sum.
The acquisition gives Intel a way to expand beyond the sluggish PC processor market that has been a drag on the company's financial results. In April, CEO Brian Krzanich told Wall Street analysts that he expects the PC market to decline at a mid-single-digit rate this year.
Recon Instruments makes smart eyewear for sports enthusiasts. The acquisition brings to Intel a wearables computing development team that the company can leverage to expand into head-mounted display products and other technologies.