Unity Acquires Augmented Reality Construction Platform, VisualLive
Unity (NYSE: U) has acquired VisualLive, enhancing its offerings in the architecture, engineering, and construction (AEC) sector. This strategic move aims to improve efficiency and cost reduction through augmented reality (AR) technology, which aligns with Unity's existing platform, Unity Reflect. The acquisition allows for better integration of Building Information Modeling (BIM) data, facilitating real-time collaboration among project stakeholders. The transaction, closed on March 4, 2021, signifies Unity's commitment to expanding its footprint in the AEC industry.
- Acquisition of VisualLive enhances Unity's position in the AEC industry.
- Integration of AR technology with Unity Reflect promotes efficiency and cost savings.
- Potential for improved collaboration and quality assurance in AEC projects.
- No financial terms disclosed, creating uncertainty about the deal's impact.
- Risks related to the integration of VisualLive's business could affect performance.
Unity (NYSE: U), the world’s leading platform for creating and operating real-time 3D (RT3D) content, today announced the acquisition of VisualLive, a technology company enabling the architecture, engineering, and construction (AEC) industry to reduce costs and increase efficiency by visualizing and collaborating in augmented reality (AR). VisualLive’s technology is complementary to Unity Reflect, the immersive collaboration and development platform that connects people, project stages, and data across the digital building lifecycle. This acquisition expands Unity's strategic growth in the AEC industry and allows customers to achieve optimal efficiency and cost-savings.
“Unity’s real-time 3D platform transforms every stage of the AEC lifecycle. With Unity Reflect, AEC professionals can unlock building information modeling (BIM) data through immersive real-time experiences,” said Julien Faure, GM of Verticals, Unity. “Adding VisualLive to our portfolio better allows us to connect the field with the design office, bringing BIM data via augmented and mixed reality to drive better quality assurance and project tracking. This will fundamentally change how design reviews, construction planning, field inspections, and facilities management are conducted.”
The current process of job site walkthroughs for construction and facilities management is fraught with human errors and the promise of reality capture, the process of replicating the physical world and putting it into virtual reality, is time-consuming and expensive. VisualLive ensures users can instantly inspect and validate designs to prevent costly mistakes. Today, VisualLive works with leading companies from architecture to sustainable energy. VisualLive employees will join Unity from VisualLive’s headquarters in Scottsdale, Arizona.
“We’re incredibly proud of the rapid growth and market adoption of VisualLive products by the AEC industry since our founding in 2017,” said Saeed Eslami, CEO and Founder of VisualLive. “VisualLive has excelled in creating a software solution that works on multiple devices to enable field workers to overlay CAD/BIM models onto the jobsite in AR within a few minutes to review the design, validate against the existing conditions, verify install completion, create reports, and collaborate with the rest of the team in real time. Together with Unity, we can expand the platform's capabilities and scale globally.”
Unity is used by top AEC companies to streamline real-world architecture, engineering, and construction workflows. Since announcing a collaboration with Autodesk in 2018, Unity has grown to support a suite of Autodesk products while also enabling Autodesk users to access real-time 3D experiences on a range of devices in AR and VR to bridge the gap between design and construction. Unity Reflect connects all project stakeholders, regardless of platform/device, model size, or geo-location to create real-time collaborative environments, which facilitates faster, more impactful decision-making throughout the entire building and infrastructure lifecycle. For more information about Unity’s work in AEC please visit www.unity.com.
The transaction closed on March 4, 2021. Financial and legal terms of the deal will not be disclosed.
About Unity
Unity (NYSE: U) is the world’s leading platform for creating and operating real-time 3D (RT3D) content. Creators, ranging from game developers to artists, architects, automotive designers, filmmakers, and others, use Unity to make their imaginations come to life. Unity’s platform provides a comprehensive set of software solutions to create, run and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company’s 1,800+ person research and development team keeps Unity at the forefront of development by working alongside partners to ensure optimized support for the latest releases and platforms. Apps developed by Unity creators have been downloaded more than five billion times per month in 2020. For more information, please visit www.unity.com.
About VisualLive
VisualLive is first to the market and the AEC industry's leading platform that offers easy-to-use and off-the-shelf augmented reality software on Microsoft HoloLens, Android, and iOS for design, engineering, and construction companies. Using VisualLive's Autodesk Revit or Naviswork plugins or web uploader interface (with 70+ 3D file formats support), users can push large BIM/CAD model files to mobile, tablet, or HoloLens headset as simple as one-click for augmented reality overlay on the job site with no coding. VisualLive allows real-time 3D visualization, collaboration, and field to office communication. VisualLive applications are currently being used in all stages of construction projects such as design review, coordination, constructability planning, fabrication QA/QC, install verification, field inspection, and facility management.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding Unity’s ability to grow in the architecture, engineering and construction industry, the impact of the transaction on Unity’s and VisualLive’s products and services capabilities, customers and partners and the ability of Unity to increase VisualLive’s platform capabilities and scale. The words “will,” “allows,” “can,” “enable,” “expand” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks, uncertainties, and assumptions, such as Unity’s ability to successfully integrate VisualLive’s business; costs related to the acquisition; whether potential benefits of the transaction extend to Unity and VisualLive customers; Unity’s and VisualLive’s success developing new products or modifying existing products and the degree to which these gain market acceptance; and any unanticipated impact of accounting for the acquisition. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Further information on these and additional risks that could affect Unity’s results are included in Unity’s filings with the Securities and Exchange Commission (“SEC”), including Unity’s Form 10-K filed with the SEC on March 5, 2021, and future reports that Unity may file with the SEC from time to time, which could cause actual results to vary from expectations. Unity assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.
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