Remote software provider TeamViewer has signed a binding agreement to acquire Ubimax. This is TeamViewer's first ever acquisition: the combined business of the two companies is expected to accelerate the growth rate in the target market from 24% to 27%, enabled by the flourishing AR market. With the combined business of both companies, TeamViewer expects to grow its target market by EUR 10 billion to EUR 40 billion in 2023.

Ubimax is a manufacturer of wearable computing and augmented reality solutions that enable skilled workers in various industries to improve their manual work processes. In addition to wearables, the company's portfolio also includes consulting services and the AR software platform Frontline. Frontline supports a variety of tasks, such as order picking in the warehouse, by visualizing them on data glasses, thereby increasing productivity. Corporate customers can also use Frontline to control their work processes and communicate with workers in production or assembly.

Statement by the Managing Directors

Oliver Steil, CEO of TeamViewer: "This first acquisition in the history of TeamViewer is a strategically important step for us. Ubimax and TeamViewer stand for digitalization 'made in Germany'. Together, we are creating a global market leader for Industry 4.0 solutions. We provide our customers with tailor-made solutions from a single source to securely connect every device, every worker and every process in various industries. Both companies share a culture characterized by innovation and entrepreneurial spirit. We warmly welcome the founders of Ubimax and the entire team at TeamViewer."

Hendrik Witt, CEO and co-founder of Ubimax, on the acquisition: "We are very pleased to be able to actively shape TeamViewer's successful path in the future. Ubimax's leading augmented reality platform and our many years of experience in optimizing industrial work processes ideally complement TeamViewer's product portfolio. Together with my founding partners Jan Junker and Percy Stocker, I am very much looking forward to driving global growth and expanding the range of applications as part of the TeamViewer family."