TeamViewer has agreed to acquire Germany-based Ubimax, a wearable computing and augmented reality (AR) solutions.
TeamViewer aims to expand its AR and Internet of Things (IoT) offering with industry-specific solutions for enterprise customers and industrial workplace.
“The joint product portfolio will offer enterprise customers a unique one-stop shop for securely connecting devices, workers and processes in numerous industries,” said Oliver Steil, CEO of TeamViewer.
With Ubimax, the total addressable market (TAM) size will increase by 10 billion euros to 40 billion euros in 2023, TeamViewer said in a statement.
“Ubimax’s Augmented Reality platform and our proven experience in industrial workflow integration perfectly complement TeamViewer’s product portfolio,” said Hendrik Witt, CEO and co-founder of Ubimax.
Ubimax’s portfolio includes the industrial AR software platform Frontline, wearable computing devices and consultancy services. Ubimax serves more than 200 enterprise customers around the globe. TeamViewer has more than 500,000 subscribers globally.