Qualcomm sells AR platform Vuforia to PTC

Monday 12 October 2015 | 16:19 CET | News
Qualcomm announced it has signed a definitive agreement to sell its Vuforia business to PTC, a provider of IoT technology platforms. PTC will acquire the Vuforia business for augmented reality applications, including the developer ecosystem, for an undisclosed amount. Qualcomm launched Vuforia five years ago to support the development of AR applications for mobile devices. However, the company said recently that it plans to narrow its focus and exit some non-core activities in order to save on costs. The sale is expected to close by the end of 2015.

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Categories: Mobile & Wireless
Companies: PTC / Qualcomm
Countries: World
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