Remote control software provider TeamViewer announced the acquisition of Ubimax, a wearable computing and augmented reality (AR) solution provider, on Friday, citingmedia reports, although the amount of the acquisition was not disclosed. Through this acquisition, TeamViewer will expand its range of AR and Internet of Things (IoT) products to provide industry-specific solutions for enterprise customers and industrial workplaces.
“Integrated products will provide enterprise customers with a unique one-stop shop to securely connect equipment, workers and work schedules across a wide range of industries,” said TeamViewer CEO Oliver Steil. “
In a subsequent statement from TeamViewer, teamviewer said that through its partnership with Ubimax, the potential market size (TAM) is expected to increase by 10 billion euros to 40 billion euros by 2023.
Hendrik Witt, CEO and Co-Founder of Ubimax, added, “Ubimax’s leading augmented reality platform and our proven experience in industrial workflow integration perfectly complement TeamViewer’s portfolio. “