GOEPPINGEN, Germany, July 15, 2020 /PRNewswire/ -- 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."
Ubimax serves more than 200 enterprise customers around the globe
Founded 2014 in Bremen, Ubimax provides an AR-based one-stop shop to its customers. Ubimax's leading solutions allow industrial workers to wear IT at work which leads to significant efficiency gains and process improvements. Its portfolio includes the industrial AR software platform Frontline, wearable computing devices and consultancy services. The Frontline product suite is like a toolbox for non-office workers: It helps them in their actual tasks, such as order picking in a warehouse, by visualizing concrete instructions and information on the smart glass and thus improving productivity. At the same time, the solution enables enterprise customers to manage their workflows and communicate with their frontline workers. Ubimax's more than 90 employees across offices in Germany, the US and Mexico sell these products to around 200 enterprise customers across different industries worldwide. In the last twelve months, Ubimax grew billings to EUR 9.1 million as of 30 June 2020. Ubimax is expected to further accelerate its growth in the next year.
Building on success of TeamViewer Pilot
Together with Ubimax, TeamViewer will be able to further expand its offering to enterprise customers and support the digitalization of shop floors with wearable computing devices, tailor-made software and applications. The acquisition enables TeamViewer to accelerate the development of new industry-specific use cases, focusing on Data Analytics and Artificial Intelligence. The new offering will build on the strong traction of TeamViewer Pilot, an AR solution with intuitive usability for mobile phones and tablets. Additionally, Ubimax's broad customer base especially amongst international blue-chip companies, such as Deutsche Post DHL, BMW or Coca-Cola Hellenic Bottling Company, will provide TeamViewer with new business opportunities in its enterprise segment. Ubimax will continue its strategic partnerships, especially with Fielmann, enabling Ubimax to offer individual prescription lenses in smart glasses with Ubimax software.
TeamViewer is a leading global technology company that provides a connectivity platform to remotely access, control, manage, monitor, and repair devices of any kind – from laptops and mobile phones to industrial machines and robots. Though TeamViewer is free of charge for private use, the company has more than 500,000 subscribers and enables companies of all sizes and from all industries to digitalize their business-critical processes through seamless connectivity. Against the backdrop of global megatrends like device proliferation, automation and new work, TeamViewer proactively shapes digital transformation and continuously innovates in the fields of Augmented Reality, Internet of Things or Artificial Intelligence. Since the company's foundation in 2005, TeamViewer's software has been installed on more than 2.2 billion devices globally. The company is headquartered in Göppingen, Germany, and employs more than 1,000 people globally. Further information can be found at www.teamviewer.com.
Ubimax is a leading provider of fully integrated industrial augmented reality (AR) solutions. The solution platform Ubimax Frontline improves manual work processes across industries along the entire value chain on the basis of the latest wearable computing technologies. The solutions are designed to consciously empower the human worker in an increasingly digitized working environment. The Ubimax Frontline solutions have received numerous awards, including the Auggie Award for "Best Enterprise Solution", the MHI Award for "Best IT Innovation" and McKinsey's German Digital Award, "The Spark". ABI Research calls Ubimax the world's leading company for industrial wearables and AR solutions. In addition to four locations in Germany, Ubimax has subsidiaries in the USA and Mexico. With more than eight years of industry experience and a remarkable track record in wearable computing, augmented reality, mixed reality, and sensor systems, Ubimax is leading the way. Ubimax today serves more than 200 customers especially amongst international blue-chip companies such as Deutsche Post DHL, BMW or Coca-Cola Hellenic Bottling Company.
Director, Communications TeamViewer
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PR & Marketing Manager Ubimax
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