COVID-19 may have had catastrophic impact on some sectors, but tech has been left considerably unscathed. However, the economic impacts of pandemic do seem to have accelerated activity in M&A deals. In yet another major acquisition story, Teamviewer, the remote working platform, has announced its first ever acquisition of wearable company Ubimax.
Ubimax develops wearable Computing and Augmented Reality (AR) solutions for the frontline workforce. Financials with respect to the deal remain unannounced.
Founder in 2014 in Berlin, Ubimax primarily deals with solutions around increasing productivity for non-office workers. 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.
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.
For Teamviewer, this would mean an opportunity to diversify its business line from office workers to front line workers as well. The company is primarily looking at expanding its digitalization of shop floors business 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 further integrate well with TeamViewer’s not so popular ‘Teamviewer Pilot’ product, 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.