Qualcomm has agreed to sell its vision-based augmented reality software platform, Vuforia, the San Diego-based mobile device technology company announced Monday.
The sale to software developer PTC is expected to close by the end of the year, and includes Vuforia's developer ecosystem, according to Qualcomm. The deal is worth about $65 million, according to Dow Jones Business News.
"We share PTC's vision for a connected world and look forward to seeing the Vuforia mobile platform continuing to flourish under PTC's leadership," Qualcomm Inc. President Derek Aberle said. "Qualcomm will continue to drive computer vision technology that will unlock a wide variety of applications for consumers and businesses around the world."
Vuforia can be used to build Android and iOS applications for mobile devices and digital eyewear. The mobile vision platform enables applications to "see," thus connecting the physical world with digital experiences, according to Qualcomm. In the five years since its launch, Vuforia has become an industry leading platform.
"Qualcomm always looks to push the boundaries of what is possible with computer vision," Aberle said. "By leveraging the company's mobile technology leadership, Vuforia has become the platform of choice for developers of augmented reality applications."
