Posted by New Delhi: TeamViewer to acquire Ubimax – a wearable computing and AR solutions company. This is TeamView’s first strategic acquisition in its history, the company said in a statement.
Under a signed definitive pact, TeamViewer will acquire Ubimax. However, the remote desktop software company has not revealed the financial details of this deal.
Jan Junker, Percy Stocke and Hendrik Witt founded Ubimax in a German city of Bremen in 2014. All the three founders along with a workforce of over 90 will be joining TeamViewer.
Over the past years, Ubimax has established itself as one-stop-shop for AR (Augmented Reality) based solutions and portfolio of industrial AR software platform Frontline, wearable computing devices and consultancy services.
Today, Ubimax has offices in Germany, the US and Mexico and serves around 200 enterprise customers across industries globally.
With this acquisition, TeamViewer will expand AR and Internet of Things (IoT) offering with industry-specific solutions for enterprise customers.
These products provide substantial process improvements and productivity gains for all customers, including many international blue-chip companies.
With Ubimax’s buyout, TeamView’s total addressable market (TAM) size will increase from EUR 10 billion to EUR 40 billion in 2023. The combination will push TAM’s annual growth rate (CAGR) from 24% to 27% driven by the AR market ‘s strong growth.
“We are very excited by this strategically important acquisition – the first transaction in TeamViewer’s history. Together with Ubimax, we will create the global leader in connectivity solutions and industrial workplace technology,” said Oliver Steil, CEO – TeamViewer.
“Our joint product portfolio will offer enterprise customers a unique one-stop-shop for securely connecting devices, workers and processes in numerous industries,” added Steil.
“We are very much looking forward to joining TeamViewer’s successful journey. Ubimax’s leading Augmented Reality platform and our proven experience in industrial workflow integration perfectly complement TeamViewer’s product portfolio,” said Hendrik Witt, CEO and Co-Founder, Ubimax.
“Together with my founding partners Jan Junker und Percy Stocker we are very pleased to become members of the TeamViewer family and to jointly drive use case expansion and global growth,” added Witt.
TeamViewer will leverage Ubimax’s capabilities to further expand offering to enterprise customers. And support the digitization of shop floors with wearable computing devices, tailor-made software and applications.
Ubimax’s buyout will enable TeamViewer to push the development of new industry-specific use cases, focusing on Data Analytics and Artificial Intelligence.
The new offering will build on the strong traction of TeamViewer Pilot, an AR solution with intuitive usability for mobile phones and tablets.
Ubimax has a broad customer base including Deutsche Post DHL, BMW or Coca-Cola Hellenic Bottling Company. They will provide TeamViewer with new business opportunities in its enterprise segment.
It will continue its strategic partnerships with Fielmann, enabling Ubimax to offer individual prescription lenses in smart glasses with Ubimax software.
(Image source – Ubimax)