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:

  • Patent Dispute Settled Between Rockwell Automation and Beckhoff Automation

    Rockwell Automation's linear motor business, including its recent Jacobs Automation acquisition, has developed a substantial portfolio of patents comprising over 100 issued patents on linear motor technology alone.

  • Mergers, Acquisitions Alliances and Noteworthy News in Robotics

    Iten Industries, manufacturer of advanced composite components and materials headquartered in Ashtabula, Ohio, is now offering additive manufacturing and 3D printing services.

  • U.S. Economy Looks Up for Manufacturing Industries

    The August PMI is led by the highest recorded New Orders Index since April 2004, when it registered 67.1%.

  • ASME Forum Ignites 21st-Century Engineering

    Founder and president of HMI/SCADA software developer Iconics, Russ Agrusa, said the company is focusing on how to harness big data on any device and in any class of applications, and turn it into predictive analytics in manufacturing and business intelligence.

  • New Customer Care Center for Endress+Hauser

    To help customers keep up with today's challenges, Endress+Hauser's new, state-of-the-art Customer Center is suited to greet visitors with a top-notch certified training facility with multiple classrooms and its largest yet PTU controlled by Rockwell Automation's PlantPAx system for real-world process simulation with over 120 measuring points.

  • The Rise of Aluminum in the Industrial Sector

    It is not just price that makes aluminum appealing when put alongside copper in the production of items like electrical wires and cables, though.

  • Maverick Acquires CQS Innovation Expanding Process Expertise in the Life Sciences Industry

    The acquisition expands Maverick's size and scale as a global organization with 19 office locations and 500+ engineering professionals. In addition, Chris Roerig, current president of CQS Innovation, will join Maverick as industry manager for life sciences.

  • ISA Offers Cybersecurity Certificate Program

    The program consists of passing a course on using the ANSI/ISA-62443 standards to secure industrial control systems. The course is available in the classroom or online. Students must also pass a written exam in the classroom or online.

  • Fieldbus Groups 'Unite'

    The combined power of both organizations will aim to protect the investments that end users in process automation have made in HART and Foundation fieldbus communication technologies.

  • Guess Who Just Turned 125 Years Old?

    ABB recently celebrated its 125th anniversary in Finland.

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