TeamViewer®, a leading global provider of secure remote connectivity solutions, today announced that it has signed a definitive agreement to acquire Ubimax, the leader in Wearable Computing and Augmented Reality (AR) solutions for the frontline workforce.
With this acquisition, TeamViewer will significantly expand its 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, the TAM’s size will increase by EUR 10 billion to EUR 40 billion in 2023.
The combination will also accelerate the TAM’s annual growth rate (CAGR) from 24% to 27% driven by strong growth of the AR market.
Oliver Steil, CEO of TeamViewer, said: “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.
Our joint product portfolio will offer enterprise customers a unique one-stop shop for securely connecting devices, workers and processes in numerous industries.
We warmly welcome the Ubimax founders and the whole team at TeamViewer, as we truly share a hands-on mentality and a culture of innovation.”
Hendrik Witt, CEO and co-founder of Ubimax, said: “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.
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.”
For more information, visit www.teamviewer.com/en-us