Qualcomm sells off its mobile AR game platform Vuforia for $65M

65 on Monday following the semiconductor firm stated that its part, Qualcomm Connected Experiences, has accepted offer its Vuforia business to really Internet of Things software program producer Pay to click (Pay to click).

Vuforia launched five years ago and is a mobile vision platform based on a technology called augmented reality, which involves superimposing computer-generated content over live images viewed through the cameras on mobile devices.

Qualcomm has solf its Vuforia AR platform to Internet of Things maker PTC for $65 million. PTC has promised to keep supporting the platform, developing it further as well. “The idea of being able to project a digital experience onto a physical product to figure out how to service it or show operating metrics is a killer idea”, he said.

PTC has thrown $65m at the technology in a bid to “leverage two transformational technology trends”: the IoT and augmented reality. The company already has an established suite of IoT and analytics platforms, which Vuforia can assist with in creating new ways to design products, to monitor and control products, and to instruct operators and technicians in the appropriate methods of use and service.

Vuforia has wide adoption from leading companies including 37 of the Interbrand 100.

As of 2015, Vuforia – which supports multiple developer tools, including Eclipse, xCode, and Unity – powers more than 20,000 apps and has more than 200 million app installations worldwide. “I look forward to leading the team under PTC.”.

PTC noted that the acquisition also includes Vuforia’s developer ecosystem and is expected to close by the end of the year.

Vuforia annual revenue is now not material to PTC financial results.