Vancouver, BC – September 26, 2013 – Recon Instruments, the award winning technology company behind the world’s first consumer Heads-up Displays (HUD) for sports, is pleased to announce that Intel Capital has made a significant investment in the company. The funding will support Recon’s product development, marketing and global sales expansion.
In addition, Recon Instruments will also benefit from Intel Capital’s expertise in manufacturing, operations and technology. Complete information regarding Recon Instruments and its newest product, the Recon Jet, can be found at www.reconinstruments.com.
“Wearable computing is a major, accelerating phenomenon that re-defines how we use and interact with information,” said Mike Bell, Vice President and General Manager of the New Devices Group at Intel Corporation. “In Recon Instruments, we see compelling technology and a solid strategy to capitalize on the wearable revolution. This is an area of significant focus for Intel Capital, and our investment in Recon Instruments is a key part of our approach to innovation in this emerging space.”
Dan Eisenhardt, CEO of Recon Instruments said: “We have spent the last five years leading the Heads-Up Display category in the consumer space. In fact, Recon has shipped more than 50,000 Heads-up Displays worldwide, including a very successful campaign in Apple retail stores. Our products are engineered to deliver instant information, direct-to-eye and without distraction in the most demanding environments on Earth. Intel Capital shares our vision for wearable technology, which enhances users’ performance and experience across a broad range of sports and outdoor activities.”
Intel Capital, Intel’s global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, health, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$10.9 billion in over 1,294 companies in 54 countries. In that time-frame, 202 portfolio companies have gone public on various exchanges around the world and 324 were acquired or participated in a merger. In 2012, Intel Capital invested US$352 million in 150 investments with approximately 57 percent of funds invested outside North America.
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