PTC to Acquire Augmented Reality Leader Vuforia from Qualcomm
Purchase Extends PTC's Strategy for Digital and Physical Convergence; PTC Commits to Continued Growth of Vuforia Technology and Community
Under terms of the agreement, PTC will acquire the award-winning Vuforia business, including the developer ecosystem. PTC 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 ("apps") 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 200 million app installs worldwide.
The combination of Vuforia and PTC leverages two transformational technology trends - Internet of Things (IoT) and augmented reality (AR) - to deliver a new class of products that merge the digital and physical worlds. When coupled with PTC's IoT and analytics platforms, Vuforia unlocks 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.
"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)," said PTC CEO
"By delivering powerful computer vision functionality through a simple
API, the Vuforia platform has enabled developers and leading brands to
deliver award-winning experiences to consumers around the globe," said
Vuforia has wide adoption from leading companies including 37 of the
Interbrand 100 and has consistently been awarded for its performance,
robustness, and ease of use, including "Best Tool" at
"We are pleased with the prospect of adding the market-leading AR technology platform, together with its large developer community, to our technology portfolio. Vuforia will accelerate our leadership position helping companies to fundamentally change the way their products are created, operated, and serviced," added Heppelmann. "We are excited about leveraging Vuforia's technology leadership in the consumer market while unleashing the Vuforia capabilities into the enterprise. We look forward to welcoming the Vuforia team to PTC."
Vuforia annual revenue is currently not material to PTC financial results. As a result of cost synergies and investment plans, PTC does not expect Vuforia to impact its FY'16 non-GAAP EPS. The transaction is expected to close by the end of calendar year 2015, subject to customary closing conditions.
- More information about the acquisition
- More information about Vuforia
- Frequently Asked Questions (FAQs) about this transaction
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
Forward Looking Statements and Risks
Statements in this press release about the expected effect of the
acquisition of the Vuforia business on PTC's business and financial
results and the anticipated closing of the acquisition are
forward-looking statements that involve risks and uncertainties that
could cause actual results to differ materially from those expected.
Such risks and uncertainties include the following: the transaction may
not close as we expect, the addition of the Vuforia business may not
provide the expected competitive advantage or benefit, we may be unable
to operate the business to achieve the expected financial results, we
may be unable to retain and maintain relationships with key employees
and strategic partners of the Vuforia business, and the opportunities
expected to be created by the Internet of Things may not materialize as
quickly or as we or others expect, as well as other risks and
uncertainties described in reports we file with the
PTC, the PTC logo, and
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