DGAP-News: TeamViewer AG
/ Key word(s): Mergers & Acquisitions
TeamViewer acquires US-based augmented reality software pioneer Upskill to strengthen global leadership in enterprise AR solutions across all verticals
Goppingen, 2nd March 2021: TeamViewer, a leading global provider of secure remote connectivity solutions and workplace digitalization technology, today announced its acquisition of Upskill, the US-based pioneer in augmented reality (AR) software for frontline workers. Upskill's digital workflow solutions support workers especially in industrial manufacturing, inspection, and audit use cases through real-time interfaces with smart glasses and handheld mobile devices. With Upskill's strong presence on the North American continent, an engineering hub in Austin, TX, and reputable blue-chip customers such as The Boeing Company, Merck KGaA and American Bureau of Shipping, TeamViewer strengthens its position as the number one global player in providing industry-specific AR solutions. The company had started to strategically invest in that space in 2020 with the successful acquisition of European wearable software leader Ubimax, serving global champions like DHL, Siemens and Coca-Cola Hellenic Bottling Company.
Oliver Steil, CEO of TeamViewer, said: "Joining forces with Upskill is expanding our footprint in the space of vertical augmented reality solutions in our largest market, the US. I am happy to welcome the Upskill team that adds significant technical and solution delivery know-how to our US organization. Our joint AR teams now represent the world's most experienced workforce in deploying wearable computing technology to the shop floor. By acquiring Upskill, we strengthen our capabilities in enabling digital transformation across all verticals and parts of the value-chain as the company is focusing on complementary use cases and industries such as aerospace, pharma & life sciences, insurance & claims management and retail. The enterprise AR market is huge and growing rapidly, and we are perfectly positioned to tap that potential."
Brian Ballard, CEO of Upskill, said: "We are very excited to join TeamViewer and to further shape the future of work. Combining with their strong sales and marketing capabilities and integrating with their AR and IoT solutions, we will reinforce our mission to upskill frontline workers and to enhance industrial processes through technology. Our existing customers will benefit from an accelerated product development roadmap, global reach, and additional solutions and features within the TeamViewer portfolio."
Upskill, founded in 2010, has two locations in the United States in Tyson's Corner, VA and Austin, TX. TeamViewer plans to keep and grow these offices to expand its presence within the US and to build on Upskill's important partnerships within the US tech ecosystem.
The parties have agreed not to disclose the purchase price.
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. Although TeamViewer is free of charge for private use, it has more than 550,000 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 2.5 billion devices around the world. The company is headquartered in Goppingen, Germany, and employs more than 1,300 people globally. In 2020, TeamViewer achieved billings of EUR 460m. TeamViewer AG (TMV) is listed at Frankfurt Stock Exchange and belongs to the MDAX. Further information can be found at www.teamviewer.com.
Upskill is a market leader in augmented reality (AR) solutions for the industrial workforce. Named a Gartner Cool Vendor, IDC Innovator and World Economic Forum Technology Pioneer, Upskill is trusted by some of the world's most well-known companies, including The Boeing Company, Merck KGaA and American Bureau of Shipping. Upskill's mission is to improve the way the world works and has been pioneering the use of wearable technology at work since 2010. With its award-winning Skylight AR platform, Upskill connects the frontline workforce in real-time with the critical information, data and tools necessary to perform their job more efficiently and effectively. To learn more, visit upskill.io.
Press Contact TeamViewer
Press Contact Upskill
02.03.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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