TeamViewer is acquiring augmented reality software provider Upskill to strengthen the company’s position in the industry-specific AR market.
Terms of the deal were not disclosed.
This is M&A deal number 152 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
The deal is particularly timely, considering vendors are pitching augmented reality as a way for IT service providers (ITSPs) and help desks to improve remote services. In fact, augmented reality and mixed reality will be major themes at this week's Microsoft Ignite 2021 virtual conference.
TeamViewer Acquires Upskill: Company Backgrounds
TeamViewer, founded in 2005, is headquartered in Goppingen, Germany, and employs more than 1,300 people worldwide. The company 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, according to a statement released by the company. TeamViewer is free-of-charge for private use, and has more than 550,000 subscribers. To date, TeamViewer’s software has been installed on more than 2.5 billion devices around the world, the company said.
Upskill, founded in 2010, provides a digital workflow solution to support workers, especially in the areas of industrial manufacturing, inspection and audit use cases through real-time interfaces and wearable technology such as smart glasses and handheld mobile devices, according to the statement. The company's Skylight AR platform gives frontline workers access to real-time data and tools necessary to perform their job more efficiently and effectively, according to the company.
Upskill has two locations in the U.S., in Tyson’s Corner, Virginia, and Austin, Texas. TeamViewer plans to keep and grow these offices to expand its presence within the U.S. and to build on Upskill’s relationships in the U.S. tech ecosystem, according to the statement.
The Upskill acquisition will leverage that company's strong presence in North America, according to the statement. Upskill boasts The Boeing Company, Merck KGaA, the American Bureau of Shipping and Accenture, as customers. TeamViewer will build on these existing relationships to strengthen its position in the industry-specific AR solutions market, where it started investing in 2020 with its acquisition of European wearable software leader Ubimax, according to the statement.
TeamViewer Acquires Upskill: Executive Commentary
Oliver Steil, CEO of TeamViewer, commented on the deal:
“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.”
