Qualcomm Sells Off Vuforia AR Business

Vuforia Augmented RealityTechnology solutions firm PTC has acquired Vuforia, the AR (Augmented Reality) business previously owned by Qualcomm, for $65m (£42m).

Described as a mobile vision platform, Vuforias SDK can be plugged into apps to add image recognition functionality. It has been used in over 20,000 apps, on both mobile and wearable devices. PTC specialises in Internet of Things solutions, and hopes the acquisition will open up 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.

It could be argued that the sale is indicative of lagging interest in AR, even as new technology like Microsofts HoloLens is on its way, but Qualcomm is eager to paint the sale as a positive move.

In a statement to customers posted on its site, the company offered assurance “that PTC has stated they are fully committed to maintaining continued growth for the Vuforia community and continued investment in the Vuforia platform. Current apps will remain unchanged and developers will continue to have the same level of support from the Vuforia team as the business transitions to PTC.”

The acquisition is expected to close before the end of the year.