- PTC acquired Vuforia, a subsidiary of Qualcomm
- The Vuforia Platform is an advanced and widely adopted augmented reality (AR) technology platform in the consumer market
- Vuforia is an award-winning mobile vision platform
- 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 world
From the PTC press release:
Purchase Extends PTC’s Strategy for Digital and Physical Convergence; PTC Commits to Continued Growth of Vuforia Technology and Community
NEEDHAM, MASS., November 3, 2015 – 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.”