Going from strength to strength, PTC strike a deal to acquire intellectual property and talent from RE’FLEKT, the AR software and remote guidance solutions provider
➨ PTC is acquiring AR software company RE’FLEKT’s intellectual property and top talent
➨ The acquisition will see RE’FLEKT’s founder and certain members of staff join PTC’s Vuforia business unit
➨ PTC says the deal “increases our ability to deliver meaningful value to our customers”
PTC, the industrial software and services specialist with a highly rated set of augmented reality (AR) tools, is expanding those capabilities with the acquisition of intellectual property and top talent from RE’FLEKT.
The announcement stresses that the acquisition focuses on RE’FLEKT intellectual property, although it is not clear exactly what the deal covers. The company provides enterprise AR software and remote guidance solutions, and, according to its website homepage, they are no longer available for purchase.
As part of the agreement, the Munich, Germany-headquartered AR provider’s founder and certain members of staff join PTC’s Vuforia business unit.
PTC’s motivation behind the acquisition, according RE’FLEKT, is to expand its AR technical expertise and go-to-market organisation, with an emphasis on Europe.
Founded in 2012 by Wolfgang Stelzle, who is joining PTC as part of the agreement, RE’FLEKT is a prominent AR software provider in Europe and counts ABB, Bosch, Medtronic, Roche, Siemens and Volvo as clients.
Its flagship product, RE’FLEKT One, is a work instruction and visual guidance solution. The company also provides remote collaboration software.
There are obvious similarities with Vuforia, PTC’s AR solution suite for industrial businesses, the market that RE’FLEKT targets.
Vuforia enables those businesses to train frontline workers, capture and transfer expert knowledge, ensure product quality during manufacturing, and improve first-time fix rates.
“This agreement with RE’FLEKT bolsters PTC’s leadership in the enterprise AR market and increases our ability to deliver meaningful value to our customers,” comments Michael Campbell, executive vice president and general manager of AR at PTC.
Stelzle says: “I’m proud of what the RE’FLEKT team has accomplished over the last decade. We built a company that developed innovative products and helped bring AR into the mainstream in industrial enterprises. I’m excited to bring our years of expertise and insights to the Vuforia business, in collaboration with Michael and the extended team.”