NEEDHAM, Mass.--(BUSINESS WIRE)--PTC (NASDAQ: PTC) announced today it has completed its acquisition of the Vuforia business from Qualcomm Connected Experiences, Inc., a subsidiary of Qualcomm Incorporated. The Vuforia™ platform is the industry’s most advanced and widely adopted augmented reality (AR) technology platform. The acquisition enhances PTC’s technology portfolio and accelerates PTC’s strategy as a leading provider of technologies and solutions that blend the digital and physical worlds.
The combination of Vuforia and PTC leverages two transformational technology trends – Internet of Things (IoT) and augmented reality (AR) – that will allow PTC to deliver a new class of products that merge the digital and physical worlds.
“With the addition of Vuforia, PTC provides an incredibly innovative technology platform that enables customers to capitalize on the opportunity of the Internet of Things (IoT),” said PTC CEO Jim Heppelmann. “PTC welcomes the Vuforia team and customers, commits to supporting Vuforia’s technology leadership in the consumer market, and will soon unleash the Vuforia capabilities in enterprise industries. For example, when coupled with PTC’s IoT and analytics platforms, Vuforia will unlock a world of 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.“
"I’m honored to lead the Vuforia effort at PTC, and to join such a talented team of innovators with a complementary vision," said Jay Wright, Senior Vice President and General Manager, Vuforia. “I’m also excited to grow the Vuforia platform and ecosystem – we have a tremendous opportunity to change the way people work, in addition to the way they play, shop, and learn."
“By combining its existing suite of enterprise applications with the new platform business (ThingWorx IoT platform, ColdLight analytics engine, and Vuforia augmented reality platform), PTC will provide greater value to existing customers while attracting new ones,” said Ryan Harbison, Research Analyst, ABI Research. “The ability to embed digital information, 3D models and digital twins into virtual scenarios and real-world environments in areas of design, monitoring, control, instruction, and service provides customers with new and exciting value propositions.”
PTC (NASDAQ: PTC) is a global provider of technology platforms and solutions that transform how companies create, operate, and service the “things” in the Internet of Things (IoT). The company’s next-generation ThingWorx® technology platform gives developers the tools they need to capture, analyze, and capitalize on the vast amounts of data being generated by smart, connected products and systems. The company’s field-proven solutions are deployed in more than 28,000 businesses worldwide to generate a product or service advantage. PTC’s award-winning CEO, considered an industry thought leader, co-authored the definitive guides to the impact of the IoT on business in the Harvard Business Review.
Forward-Looking Statements and Risks
Statements in this press release about the opportunities created by the acquisition of Vuforia, the integration of the solutions, and the introduction of new products that leverage the Vuforia technology are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially, including the risks that we may be unable to integrate the solutions or to introduce new products as we expect and that customers may not adopt any combined solution when or at the rates we expect.
PTC, the PTC logo, ThingWorx and Vuforia are trademarks or registered trademarks of PTC Inc. or its subsidiaries in the United States and other countries.