Luxottica Sees the Light in $54 Billion Deal

Even the most obvious of deals needs the stars to align. It has taken a long time for the spectacles industry to create a major player that makes both lenses and frames, despite the evident logic of combining the two. Now French lens-maker Essilor International SA and frame designer Luxottica Group SpA are merging to create a 51 billion euro ($54 billion) glasses giant. The deal is good for both sides -- especially Luxottica and its 81-year-old founder and 63 percent shareholder Leonardo Del Vecchio.

Keeping lenses and frames separate doesn't look wise as the industry tries to establish a new market for "smart" glasses. A deal between Essilor and Luxottica should lead to more productive R&D. Both sides were already encroaching on each other's turf.