PTC acquires Vuforia from Qualcomm

PTC has announced it has signed a $65million agreement to acquire the Vuforia business from Qualcomm Connected Experiences, Inc., a subsidiary of Qualcomm Incorporated.

Under the terms of the agreement, PTC will acquire the Vuforia business, including the developer ecosystem. PTC says it is committed to continued investment in the Vuforia platform and to the ongoing support and growth of the Vuforia ecosystem.

Vuforia is a mobile vision platform that enables applications to see and connect the physical world with digital experiences that demand attention, drive engagement, and deliver value. Today, Vuforia is supported by a global ecosystem of developers in 130 countries, and has powered more than 20,000 apps with more than 200million app installs worldwide.

The combination of Vuforia and PTC leverages two transformational technology trends – IoT and augmented reality (AR) – to deliver new classes of products that merge the digital and physical worlds. When coupled with PTC’s IoT and analytics platforms, PTC claims that Vuforia will unlock possibilities for creating new ways to design products, to monitor and control products, and to instruct operators and technicians in the appropriate methods of use and service.

PTC CEO, Jim Heppelmann said: “Because of what the 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,

“We are pleased with the prospect of adding the market-leading AR technology platform, together with its large developer community, to our technology portfolio,” Heppelmann added.