PTC comes together with Magic Leap to boost capabilities of augmented reality in enterprises

PTC announced Tuesday an alliance with Magic Leap that will allow enterprise and industrial customers to combine the augmented reality (AR) capabilities of its Vuforia Engine solution with Magic Leap 1 wearable headset.

Vuforia Engine offers dynamic Object Recognition and can perceive images, 3D models and environments to provide development flexibility. The technology offered by Vuforia Engine lets developers freely build branded AR for new or existing applications.

Vuforia Engine provides users with advanced computer vision and cross-platform reach, and supports the broadest range of devices on the market. Beginning this month, PTC will offer Vuforia Engine to Magic Leap 1 customers, who will have access to the latest AR innovations of Vuforia Engine, including its differentiated artificial intelligence (AI) -based Model Target technology. 

The combination of this software with Magic Leap’s hardware and spatial computing technology will offer customers a value-rich solution for the enterprise.

“Industry leaders today need to have the flexibility to select the best hardware and software to fit their needs,” said Michael Campbell, EVP and GM, augmented reality products, PTC. “This collaboration enables our many industrial customers to pair our powerful AR software with equally powerful hardware.”

In the era of digital transformation, enterprises and industrial companies are turning to new technologies to help them prepare for shifting customer expectations, uncertain global trade, cost pressures, and workforce shortages. AR offers companies an innovative and effective way to connect people to digital content where and when they need it, thereby increasing efficiency, providing more-impactful training, and achieving greater overall cost savings.

“We’re excited to announce our collaboration with PTC,” said Omar Khan, chief product officer, Magic Leap. “The opportunity for AR across the enterprise is enormous, and we want all businesses to be able to leverage industry-leading technology that can enhance productivity throughout the digital workplace.”

PTC completes OnShape acquisition; drives market transition to SaaS model

PTC announced that it has completed its acquisition of Onshape, developer of the Onshape Software as a Service (SaaS) product development platform that unites robust computer aided design (CAD) software with data management and collaboration tools. The acquisition positions PTC to capitalize on the inevitable industry transition to SaaS.

Onshape will operate as a SaaS business unit within PTC with Jon Hirschtick, president of Onshape, reporting directly to Jim Heppelmann, president and CEO of PTC. Barclays acted as exclusive financial advisor to PTC on the transaction.

The SaaS model, while nascent in the CAD and product lifecycle management (PLM) markets, is rapidly becoming industry best practice across most other software domains. 

IDC's research shows manufacturers are looking to the cloud to support specific innovation-related processes such as design review, supplier collaboration, quality management, and service execution.

Located in Cambridge, Massachusetts, Onshape was founded in 2012 by CAD pioneers and tech legends, including Jon Hirschtick, John McEleney, and Dave Corcoran, inventors and former executives of SolidWorks. Onshape has secured more than $150 million in funding from leading venture capital firms and has more than 5,000 subscribers around the world. 

The company’s software offering is delivered in a SaaS model, making it accessible from any connected location or device, eliminating the need for costly hardware and administrative staff to maintain. 

Distributed and mobile teams of designers, engineers and others can benefit from the product’s cloud nature, enabling them to improve collaboration, and reduce the time needed to bring new products to market – while simultaneously staying current with the latest software.