Massachusetts-based computer software company PTC announced today that it will purchase the augmented reality (AR) business Vuforia after reaching a $65 million deal with Qualcomm Connected Experiences.
As part of the transaction, PTC will obtain the developer ecosystem associated with the AR platform. The company expects the deal to close by the end of 2015.
Read more: How to Secure the Internet of Things
PTC described Vuforia as a platform that allows apps “to see and connect with the physical world with digital experiences that demand attention, drive engagement, and deliver value.” The business currently features developers in 130 countries and supports more than 20,000 apps. It is compatible with iOS and Android phones, tablets, and a few forms of mobile eyewear. The technology supports xCode, Unity, and Eclipse.
PTC believes that the grouping of the Vuforia with PTC’s focus on IoT and analytics platforms will help to create cutting-edge products that integrate the digital and physical worlds.
“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,” PTC CEO Jim Hepplemann said of the pending transaction.
“Vuforia will accelerate our leadership position helping companies to fundamentally change the way their products are created, operated, and serviced,” added Heppelmann
Vuforia brings in annually isn’t now material to PTC’s financial results, the company said in its announcement. It also doesn’t forecast that Vuforia will influence its fiscal year 2016 non-GAAP EPS.
