ThingWorx owner PTC agrees to acquire Kepware in $100m deal
US technology firm PTC, owners of the ThingWorx Internet of Things platform, has announced it is to acquire software development provider Kepware for approximately $100 million (£68m) to add to its industrial IoT portfolio.
The agreement also includes a potential $18 million (£12.2m) dependent on meeting certain financial and strategic milestones.
Maine-based Kepware has customers across 120 countries and in industries such as power and utilities, building automation, oil and gas and manufacturing. Its KEPServerEX flagship product connects disparate control systems and devices for a single source of industrial data.
Under the acquisition deal, KEPServerEX will be made a key component of PTC's ThingWorx IoT technology platform. With the products integrated, machine data will be aggregated in the ThingWorx platform and integrated with external and internal information. The data can then be analysed automatically using the platform's machine-learning capabilities. This integrated solution will give industrial organisations insight and optimise mission-critical processes.
Both PTC and Kepware share several common customers that will benefit from the deal. Industrial firms already using Kepware will benefit from the added capabilities of the PTC ThingWorx platform. Also, PTC customers will get visibility into data from various industrial production and control equipment.
Jim Heppelmann, PTC president and CEO, said: "PTC is committed to helping manufacturers, infrastructure operators, and others realise the enormous value inherent in the Internet of Things.
"With this acquisition, we will gain entry into heterogeneous factory and operating environments with robust technology, an impressive list of customers, and a high-quality, profitable company with incredibly talented employees,” he added.
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