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© mikael damkier dreamstime.com Business | November 04, 2015

PTC completes acquisition of Vuforia

PTC has completed its acquisition of the Vuforia business from Qualcomm. Enhancing PTC’s technology portfolio and accelerates the company's strategy to position it self as a top provider of technologies and solutions that blend the digital and physical worlds.
The combination of the Vuforia augmented reality (AR) technology platform and PTC leverages two transformational technology trends – Internet of Things (IoT) and augmented reality (AR) – that will allow PTC to deliver a new class of products that merge the digital and physical worlds.

“With the addition of Vuforia, PTC provides an incredibly innovative technology platform that enables customers to capitalize on the opportunity of the Internet of Things (IoT),” said PTC CEO Jim Heppelmann. “PTC welcomes the Vuforia team and customers, commits to supporting Vuforia’s technology leadership in the consumer market, and will soon unleash the Vuforia capabilities in enterprise industries. For example, when coupled with PTC’s IoT and analytics platforms, Vuforia will unlock 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.“

"I’m honored to lead the Vuforia effort at PTC, and to join such a talented team of innovators with a complementary vision," said Jay Wright, Senior Vice President and General Manager, Vuforia. “I’m also excited to grow the Vuforia platform and ecosystem – we have a tremendous opportunity to change the way people work, in addition to the way they play, shop, and learn."
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