Essilor has entered into an agreement with Coastal Contacts Inc. to acquire Coastal.com, a transaction worth about $430 million.

 

The purchase price of $12.45 per share to be paid by Essilor represents a premium of 43% over the three-month average price for Coastal.com on the TSX ($8.73) and 84% over the six-month average price ($6.78).

 

“Essilor shares Coastal.com’s focus on customers, innovation and growth,” said Roger Hardy, Coastal.com’s founder and CEO. “The combination will enhance Coastal.com’s ability to achieve its goals while realizing a significant all-cash premium for our shareholders. I am confident this transaction is the right decision for Coastal.com, our employees and our shareholders.”

 

The agreement remains to be approved by shareholders and the relevant authorities. It has already been unanimously approved by the Board of Directors. Since the sale has not yet been completed, the Board could receive a better offer from another buyer, in which case Essilor would have the right to match the new offer. The transaction is expected to close in the second quarter of 2014.

Source:

http://investors.coastal.com/Press-Room/News-Releases/Press-Release-Details/2014/Essilor-International-Agrees-to-Acquire-Coastalcom-for-430-Million/default.aspx

 

Missed games associated with eye injuries sustained by hockey players cost franchises in the National Hockey League (NHL) more than $32 million from 2002 to 2013, according to a study presented at the Annual Meeting of the American Academy of Ophthalmology (AAO).

 

The researchers identified 149 eye injuries in that time frame. The majority of them were caused by being hit by the puck (37%) or struck by a high stick (28%). Only 18% were caused by fights.

 

Players who do not wear a visor are 4.23 times more likely to sustain eye injury. By measuring penalty minutes, hits and fights, the study was also able to show that the most aggressive players are most averse to wearing a visor.

 

“Although it may seem like common sense to wear visors, until now there was little evidence that they could decrease injuries or could save the league money,” said lead researcher Jonathan Micieli, of the University of Toronto. “Quantifying these factors can make a big difference in the NHL’s policy discussions.”

 

Since June 2013, players new to the game must wear a visor. Those who had played over 26 games in the NHL at the time the rule was introduced can, however, decide whether or not they will wear one. About 73% of players wore visors during the 2012-2013 season.

Source:

http://www.sciencedaily.com/releases/2013/11/131116171108.htm

 

Gartner Inc. claims that as early as 2017, web-connected eyewear, such as Google Glass and Gear Glass by Samsung, could bring in billions of dollars a year for businesses that use them.

 

According to Angela McIntyre, research director at Gartner, these savings would stem from an increase in efficiency and production for technicians, engineers and employees in the field, in maintenance, health and production services. With this type of device, young employees could learn to perform a task by following instructions displayed on the Glass or workers could resolve problems quicker at remote sites.

 

Furthermore, the American company, Rochester Optical, recently announced that it will be manufacturing ophthalmic lenses for the Google Glass as of January 2014. This will make the Glass more accessible to the general population. Since there is currently no agreement binding Rochester Optical and Google, the lenses will need to be ordered separately.

 

Google also sees a possible competitor emerging from an unexpected sector. Japanese car maker Nissan has indicated its intention to launch its own web-connected glasses. Nissan will show its prototype at the 43^rd Tokyo Motor Show. The 3E glasses will be able to display navigation data, capture the health status of the driver and his/her car, and even send photos and videos.

 

What remains to be seen is whether the authorities will approve wearing these glasses while driving; they already have to deal with the epidemic of drivers who text behind the wheel…

Sources:

http://www.acuite.fr/articles.asp?REF=9126 

http://www.directioninformatique.com/des-lentilles-ophtalmiques-seront-offertes-pour-les-lunettes-de-google/22888

http://auto.lapresse.ca/technologies/201311/13/01-4710373-nissan-presentera-des-lunettes-connectees-au-salon-de-tokyo.php

 

 

Essilor International announced today that it has signed an agreement to acquire the 51% stake in Transitions Optical owned by PPG. The French giant already had a 49% stake in Transitions.

 

Under the agreement, Essilor will also acquire Intercast, a sun lens manufacturer based in Parma, Italy. The transaction, which is expected to close during the first half of 2014, will cost Essilor $1.73 billion, as well as a deferred payment of $125 million dollars over five years.  

 

Essilor and PPG have jointly developed Transitions Optical since it was founded 23 years ago. “We look forward to a continued strong relationship with PPG as they will be providing ongoing research and development services and optical dyes to Transitions Optical under multi-year agreements with Essilor,” said President of Transitions Optical, Dave Cole.

 

Hubert Sagnières, Essilor’s Chairman and CEO, said that the acquisition of Transitions Optical is fully aligned with Essilor’s strategy. The integration process should be smooth due to the strong ties already existing between the two entities. “It will enable us to boost expansion in the photochromic segment, which is growing twice as fast as the optical industry, notably in Asia, Latin America and Europe.”

 

Sources : http://www.essilor.com/en/Press/News/Documents/2013/CP_ACCORD%20TOI%2029%20juillet_A.pdf

http://www.bfmtv.com/economie/essilor-acquiert-transitions-optical-leader-mondial-verres-photochromiques-569392.html

 

In the 1970s, the American television series “The Six Million Dollar Man” chronicled the adventures of Steve Austin, a hero with a bionic eye. Today, the first commercial bionic eye is available on the market.

 

Of course, the Argus II bionic eye implant does not let the blind see at extraordinary distances. In fact, it does not entirely restore sight, but it does help those suffering from retinitis pigmentosis recover partial vision. Argus II is a retinal implant that operates with external glasses equipped with a tiny camera. The camera records black and white images with a 60-pixel resolution. The data is then sent to a radio receptor in the Argus II device, activating microelectrodes, which relay electric signals to the optic nerve. The message is then sent to the brain.

 

Vision is in black and white, and the level of visual acuity is 20/1,260. The implant needs a functional optic nerve to accomplish its task, which makes it inoperable in AMD or glaucoma cases.

Source: http://www.bulletins-electroniques.com/actualites/73218.htm