Qualcomm today said it has agreed to sell its Vuforia business to a company called PTC.
Vuforia was hatched five years ago as an augmented reality platform, giving mobile applications the ability to “see” and merge interactions between the physical and digital worlds. Over the years, Vuforia has become more focused on the Internet of Things.
Vuforia’s developer community will be transitioned to PTC along with the business unit itself.
Qualcomm expects the transaction to close by the end of the year. Terms of the sale were not disclosed.
