PTC recently announced it has signed an agreement to acquire the Vuforia business from Qualcomm Connected Experiences, a subsidiary of Qualcomm for $65 million. The aquisition of Vuforia, which provides augmented reality (AR) technology platform will enrich PTC’s technology portfolio of products.
Vuforia enables applications to see and connect the physical world with digital experiences that demand attention, drive engagement, and deliver value. Vuforia claims that its platform is supported by a global ecosystem of developers in 130 countries, and has powered over 20,000 apps with more than 200 million app installs worldwide.
When coupled with PTC’s IoT and analytics platforms, Vuforia can create new ways to design products, to monitor and control products, and to instruct operators and technicians in the appropriate methods of use and service, said PTC.
PTC CEO Jim Heppelmann
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). Because of what IoT is enabling, more and more products are now a mixture of digital and part physical content.
Jay Wright, Vice President of Vuforia, Qualcomm Connected Experiences, Inc
As part of PTC, Vuforia will allow developers to realize this potential through integration with PTC’s industry leading applications and ThingWorx IoT platform.
