DUBAI: The Mubadala Investment Company announced it was investing in Rodenstock Group, a manufacturer of ophthalmic lenses based in Germany.
The Abu Dhabi strategic investment fund will become a minority investor alongside British private equity firm Apax, it said in a statement.
The company makes what it describes as "Biometric Intelligent Glasses" which claims to offer better field of vision and sharpness than standard spectacles.
“Rodenstock is the leading pure play lens manufacturer in the European market, with a strong reputation for innovation and a consistent focus on offering a differentiated customer proposition,” Camilla Macapili Languille, head of life sciences at Mubadala, said.
The transaction is subject to regulatory approvals, and is expected to close mid-2021.
Mubadala signed a life sciences deal with the UK Office for Investment last week, valued at around $1.38 billion.
