Contact lens-focused e-commerce platform 1-800 Contacts has agreed to buy Israel-based vision-testing technology provider 6over6 Vision in a deal that will enable eyewear retailer Lenskart to exit.
Although the companies did not disclose the size of the transaction, sources close to the deal told Globes they estimate the company will cost about $100m.
Founded in 2014, 6over6 has developed a web and mobile app called GlassesOn that enables users to conduct their own vision tests and renew contact lens prescriptions from anywhere. The technology will be introduced across 1-800 Contacts’ online offering.
John Graham, 1-800 Contacts’ CEO, said: “We have long admired the innovations 6over6 has built and have been using their technologies to serve our customers. This expected acquisition allows us to continue our 25-year commitment to pursuing a better way in vision care.
“People deserve simple and affordable eye care solutions and acquiring 6over6 will allow us to deliver this for our customers on an even larger scale.”
Lenskart invested $1m in the company as part of an $11m round in December 2017 that was led by venture capital firm Rimonci Capital. Its investors reportedly also include Triventures and Alumot Fund, and media reports stated that it has raised $15m pre-acquisition.
Photo courtesy of 6over6 Vision Ltd.
