PTC has announced it has signed a definitive agreement to acquire the Vuforia business, the industry’s most advanced augmented reality (AR) technology platform, from Qualcomm Connected Experiences, Inc., a subsidiary of Qualcomm Incorporated.
Vuforia is a mobile vision platform that enables applications to see and connect the physical world with digital experiences. The $65 million deal will enrich PTC’s technology portfolio and accelerate PTC’s strategy as a leading provider of technologies and solutions and is expected to close by the end of this year.
Vuforia is supported by a global ecosystem of developers in 130 countries, and has powered more than 20,000 apps with more than 200 million app installs worldwide. Under terms of the agreement, PTC will acquire Vuforia’s developer ecosystem and continuing so invest and support the platform.
The combination of Vuforia and PTC leverages two transformational technology trends – Internet of Things (IoT) and augmented reality (AR) – to deliver a new class of products that merge the digital and physical worlds.
“PTC continues to pursue a strategy of providing an incredibly innovative technology platform that customers can use to capitalize on the emerging Internet of Things (IoT),” explained PTC CEO Jim Heppelmann. “Because of what IoT is enabling, more and more products are now a mixture of digital and part physical content. So, naturally, the ways in which we interact with these products will evolve toward a mixed-reality model that blends physical and digital interactions. “
Jay Wright, Vice President of Vuforia, Qualcomm Connected Experiences, Inc., commented: “The Vuforia platform has enabled developers and leading brands to deliver award-winning experiences to consumers around the globe. Vuforia has also captured the attention of industry leaders who envision the potential for augmented reality to transform work. As part of PTC, Vuforia will allow developers to realize this potential through integration with PTC’s industry leading applications and ThingWorx IoT platform.”
Vuforia has wide adoption from leading companies including 37 of the Interbrand 100 and supports multiple developer tools, including Eclipse, xCode, and Unity and runs on multiple operating systems and devices, including iOS and Android phones, tablets, and selected mobile eyewear.
Heppelmann, added: “We are excited about leveraging Vuforia’s technology leadership in the consumer market while unleashing the Vuforia capabilities into the enterprise. We look forward to welcoming the Vuforia team to PTC.”
