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TeamViewer is a German software company specializing in remote connectivity solutions. Its products enable secure remote access, control, management, and support to any device. Common use cases include remote IT support, after-sales service, and vision picking. The company's offerings extend to the Internet of Things and augmented reality. TeamViewer customers are mainly small and medium-sized businesses, but it also has a growing number of enterprise customers.

TeamViewer SE

TeamViewer

TeamViewer (OTC:<a class="ticker" href="/stock/TMVWF#OTC">TMVWF</a>) today announced its acquisition of Upskill, the US-based pioneer in augmented reality (AR) software for frontline workers. Upskill's digital workflow solutions support workers especially in industrial manufacturing, inspection, and audit use cases through real-time interfaces with smart glasses and handheld mobile devices. With Upskill's strong presence on the North American continent, an engineering hub in Austin, TX, and reputable blue-chip customers such as The Boeing Company, Merck KGaA and American Bureau of Shipping, TeamViewer strengthens its position as the number one global player in providing industry-specific AR solutions. The company had started to strategically invest in that space in 2020 with the successful acquisition of European wearable software leader Ubimax, serving global champions like DHL, Siemens and Coca-Cola Hellenic Bottling Company.

Oliver Steil, CEO of TeamViewer, said: "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."

Upskill, founded in 2010, has two locations in the United States in Tyson's Corner, VA and Austin, TX. TeamViewer plans to keep and grow these offices to expand its presence within the US and to build on Upskill's important partnerships within the US tech ecosystem.

The parties have agreed not to disclose the purchase price. 

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Latest TeamViewer Stock News | OTC:TMVWF | Benzinga

Tuesday, March 02, 2021

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