TeamViewer is acquiring Ubimax, a provider of wearable computing and augmented reality (AR) solutions. Financial terms were not disclosed. The deal has multiple potential use cases for MSPs and VARs that provide remote IT support, on-premises support, and co-managed services to customers.
This is M&A deal 291 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
The TeamViewer-Ubimax deal may be a wakeup call for more traditional remote IT and remote control software tools -- such as AnyDesk, ConnectWise Connect, LogMeIn, SplashTop and Zoho Assist, among others.
Indeed, potential use cases for Ubimax's equipment includes blended IT support services. For instance, an on-site technician or worker can leverage information (displayed on smart glasses) for repairs or IT troubleshooting. That same on-site worker could interact with a remote help-desk or bot-driven support system that "sees" what the on-site technician is doing or experiencing.
TeamViewer Acquires Ubimax: Deal Details, Next Moves
Ubimax, founded in 2014, has more than 90 employees across offices in Germany, the United States and Mexico, along with roughly 200 enterprise customers worldwide. Ubimax's technology portfolio spans an industrial AR software platform called Frontline; wearable computing devices; and consultancy services. In the last 12 months, Ubimax billings were EUR 9.1 million (roughly US$10.35 million) as of 30 June 2020.
Within the M&A announcement, TeamViewer pointed to several next steps and potential opportunities. The company says they include:
- The digitalization of shop floors with wearable computing devices, tailor-made software and applications.
- Accelerating the development of new industry-specific use cases, focusing on Data Analytics and Artificial Intelligence.
- Building on TeamViewer Pilot, an AR solution with usability for mobile phones and tablets.
- Continuing Ubimax's strategic partnerships, especially with Fielmann, enabling Ubimax to offer individual prescription lenses in smart glasses with Ubimax software.
TeamViewer Acquires Ubimax: Executive Perspectives
In a prepared statement about the deal, TeamViewer CEO Oliver Steil 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. We warmly welcome the Ubimax founders and the whole team at TeamViewer, as we truly share a hands-on mentality and a culture of innovation."
Added Hendrik Witt, CEO and co-founder of Ubimax:
"We are very much looking forward to joining TeamViewer's successful journey. Ubimax's leading Augmented Reality platform and our proven experience in industrial workflow integration perfectly complement TeamViewer's product portfolio. Together with my founding partners Jan Junker und Percy Stocker we are very pleased to become members of the TeamViewer family and to jointly drive use case expansion and global growth."