The financial terms of the deal were not disclosed. However, the acquisition follows Meta's recent hiring of Alan Dye, a former design executive at Apple (AAPL.O). Dye's hiring is seen as part of Meta's increased focus on developing next-generation devices. Meta plans to integrate Limitless' technology into its broader strategy for building advanced AI-powered wearables.
Limitless, previously known as Rewind, designs a wearable pendant that clips to clothing or a lanyard. This device records conversations and provides users with transcripts and searchable summaries through a companion app. The product is part of a growing category of AI assistants that aim to enhance memory and productivity in everyday life.
In addition to this acquisition, Meta has established partnerships with companies like EssilorLuxottica (ESLX.PA) and their popular eyewear brands, Ray-Ban and Oakley, to develop AI-powered smart glasses.
A Meta spokesperson commented: "We're excited that Limitless will be joining Meta to help accelerate our work to build AI-enabled wearables."
Moving forward, Limitless will stop selling its devices to new customers, although it will continue to support existing users. Current customers will be asked to agree to updated privacy terms in order to maintain access to the service.
Limitless had raised over $33 million from investors, including Sam Altman and A16z, before the acquisition. The deal is a significant step for Meta as it strengthens its efforts to lead the next wave of AI-driven wearable technology.
