PTC Acquires ThingWorx for $112 Million

Computer software company, PTC, recently acquired ThingWorx to accelerate its ability to support manufacturers seeking competitive advantages in smart, connected products.

The $112 million purchase, with a possible earn-out of up to $18 million, gives PTC accessibility to an application platform designed by ThingWorx to rapidly build innovative Internet of Things (IoT) and M2M applications.

ThingWorx will continue to work as part of PTC, as well as an emerging partner network of IoT-enabled service providers, to help customers in industries such as telecommunications, utilities, medical devices, agriculture and transportation to leverage IoT.

"All aspects of our strategy to date have centered on helping manufacturing companies transform how they create and service smart, connected products," said Jim Heppelmann, PTC president and CEO. "For manufacturers today, it is clear to us that improved service strategies and service delivery is the near-term ‘killer app' for the Internet of Things and this opportunity has guided our strategy for some time. With this acquisition, PTC now possesses an innovation platform that will allow us to accelerate how we help our customers capitalize on the market opportunity that the IoT presents."

Iot expands networks of connected sensors and devices and is contributing to a growing ecosystem of ThingWorx partners who want to capitalize on its growth. ThingWorx says the company will continue to serve this diverse market with management continuing to focus on its current path.

"At ThingWorx, we share PTC's vision for helping organizations fundamentally leverage the connected world," said Russell Fadel, CEO and co-founder, ThingWorx. "We believe all industries, but especially manufacturing, will be transformed in the Internet of Things era. We are excited to pursue this broad set of opportunities with the resources and proven solution portfolio that PTC provides."

More News:

  • IDS Is Among the First Vision Manufacturers to Introduce USB 3.0 Camera With Sony IMX174

    Equipped with image sensors, this new IDS camera model delivers outstanding imaging performance previously unattainable by CMOS-based cameras in terms of high sensitivity, high dynamic range, low fixed pattern noise, and highly accurate color reproduction.

  • China Adopts EtherCAT as a National Technology Standard

    Chinese company representatives shared experiences about their numerous EtherCAT systems and applications with the audience and explained the benefits realized through implementation.

  • HART-Fieldbus Foundation Marriage Complete

    The final step in constructing a single organization to lead process automation communications and integration technologies was completed at the end of August when the members of both the HART Communication Foundation and Fieldbus Foundation approved the merger proposed by their respective boards.

  • Use of BYOD Spreads, But Holdouts Remain

    Manufacturing workers are jumping on the bring-your-own-device (BYOD) bandwagon,

  • ISA100 Wireless Standard Gains Final IEC Approval

    ANSI/ISA-100.11a-2011, "Wireless Systems for Industrial Automation: Process Control and Related Applications," has been unanimously approved by the IEC as an international standard

  • Mergers, Acquisitions & Alliances: Danfoss Makes Offer, Hardinge Acquires Assets, and Fanuc and Rockwell Collaborate

    Danfoss made a public tender offer for all shares of the Finnish ac drives company Vacon. Hardinge, international provider of advanced metal-cutting solutions, agreed to acquire the assets of the Voumard internal diameter (ID) grinding business from Peter Wolters GmbH in Rendsburg, Germany. Maverick Technologies, acquired CQS Innovation, a system integrator specializing in control and information systems for life sciences, chemical and metals industries.

  • Belden Advocates Ethernet, Security and Wireless

    The Internet of Things (IoT) and the industrial IoT will use increasingly intelligent network infrastructures, but this will create more risk and increase the need to protect those critical infrastructures and their data. That's why we're investing both organically and through acquisition in Ethernet, security and wireless—so we can help transform this interconnected world.

  • The Future Is Forged at IMTS 2014

    Front and center was large-scale additive manufacturing in the form of the world's first 3D-printed car, which was printed and assembled on-site at the show. The project was a cooperative effort by Local Motors, Cincinnati Inc.; Oak Ridge National Laboratory; the University of Tennessee; and IMTS' Association for Manufacturing Technology (AMT).

  • Big Manufacturing Trade-Shows Dominate November Calendar

    There Will be More than 100 Exhibits Featuring Products and Services from Rockwell Automation and its Network of more than 100 Partners.

  • Honeywell OneWireless Takes the Prize for Best Wireless Solution

    The OneWireless Network is designed to enhance efficiency, safety and reliability in business processes. The OneWireless Network offers flexibility and scalability, wire-like performance with wireless security and best-in-class data availability with a low cost of ownership.

All news »

What are your comments?

Join the discussion today. Login Here.

Comments

No one has commented on this page yet.

RSS feed for comments on this page | RSS feed for all comments