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Sola, Carl Zeiss combine eyeglass units

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SAN DIEGO — A newly formed company will combine the eyeglass business of Carl Zeiss and Sola, according to a press release. The deal is worth about $1.1 billion, Sola said in the release.

The new company will be owned equally by Carl Zeiss and EQT, a European private equity firm. According to Sola president Jeremy Bishop, the combined company will have revenues of about $1.04 billion. Completion of the merger is subject to regulatory approval but is expected to close during the first quarter of 2005, the release stated.