Despite this apparent success, Qualcomm announced on Monday that it has sold the Vuforia business to PTC, a US-based computer software company specialising in 2D and 3D design software.
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It’s barely been an entire year since Qualcomm introduced its augmented reality SDK Vuforia, and already it’s found itself in the hands of another company. PTC will continue to invest in the Vuforia platform and to the ongoing support and growth of the Vuforia ecosystem. It has powered more than 20,000 apps with more than 200 million app installs worldwide.
Vuforia’s platform allows mobile apps to interact and connect with the world around them, providing immersive experiences for gaming and multimedia.
PTC CEO Jim Heppelmann said that the acquisition will help the firm develop new ways to design, monitor and control products, and to instruct operators and technicians in the appropriate methods of use and service.
The combination of Vuforia and PTC leverages two transformational technology trends – Internet of Things (IoT) and augmented reality (AR) – to deliver products that merge the digital and physical worlds.
Virtual reality (VR) and augmented reality (AR) technology maybe increasing in scope, but for large companies like Qualcomm its still seen as a niche business.
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Vuforia can be used to build Android and iOS applications for mobile devices and digital eyewear. The company’s strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity. The terms of the transaction were confirmed by a Qualcomm spokesperson, and Qualcomm said it expects the deal to close by the end of 2015.
