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PTC announced it has signed a definitive agreement to acquire the Vuforia business from Qualcomm Connected Experiences, Inc., a subsidiary of Qualcomm Incorporated, for $65 million. Vuforia is the industry's most advanced and widely adopted augmented reality (AR) technology platform, and will enrich PTC's technology portfolio and accelerate PTC's strategy as a leading provider of technologies and solutions that blend the digital and physical worlds.
Under terms of the agreement, PTC will acquire the 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.
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 Augmented World Expo in each of the last three years. Vuforia supports multiple developer tools, including Eclipse, xCode, and Unity and runs on multiple operating systems and devices, including iOS and Android phones, tablets, and selected mobile eyewear.
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.
Keywords: Digital and Physical Convergence, Augmented Reality (AR), Developer Ecosystem, Mobile Vision Platform, Internet of Things (IoT), Analytics, ARC Advisory Group.