TeamViewer, a leading global provider of secure remote connectivity solutions, 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.”
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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.
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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.
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