QUALCOMM (QCOM – Get Report) shares are down 0.23% to $57.65 on Monday after the semiconductor company said that its subsidiary, Qualcomm Connected Experiences, has agreed to sell its Vuforia business to Internet of Things software maker PTC (PTC).
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This is undoubtedly an interesting acquisition by the Massachusetts-based PTC, but given its huge focus on design solutions, it’s not hard to imagine how the company is going to take advantage of Vuforia. In 2011 it came to iOS, and it has since been used to create mobile AR games like Level-5’s Yo-Kai Land. “Qualcomm will continue to drive computer vision technology that will unlock a wide variety of applications for consumers and businesses around the world”.
“PTC continues to pursue a strategy of providing an incredibly innovative technology platform that customers can use to capitalise on the emerging IoT”, he said. “Vuforia has also captured the attention of industry leaders who envision the potential for augmented reality to transform work”. We’ll be sharing more information when the transaction closes, but wanted to assure you that PTC has stated they are fully committed to maintaining continued growth for the Vuforia community and continued investment in the Vuforia platform.
As of 2015, Vuforia – which supports multiple developer tools, including Eclipse, xCode, and Unity – powers more than 20,000 apps and has more than 200 million app installations worldwide.
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“We are pleased with the prospect of adding the market-leading AR technology platform, together with its large developer community, to our technology portfolio”. I look forward to leading the team under PTC.. Financial terms of the deal were not disclosed.
