Alliance Extends the Capabilities of Vuforia Engine with Magic Leap 1

PTC (NASDAQ:PTC) today announced a strategic alliance with Magic Leap that will allow enterprise and industrial customers to combine the augmented reality (AR) capabilities of its market-leading Vuforia® Engine solution with the powerful Magic Leap 1 wearable headset.

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 robust hardware and leading 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."

To learn more about Vuforia Engine offerings that will be available on Magic Leap 1, click here.

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PTC unleashes industrial innovation with award-winning, market-proven solutions that enable companies to differentiate their products and services, improve operational excellence, and increase workforce productivity. With PTC, and its partner ecosystem, manufacturers can capitalize on the promise of today's new technology to drive digital transformation.

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