Internet of Things(IoT) company, PTC announced that it has signed an agreement to acquire Kepware for approximately $100 million. The acquisition is expected to enhance PTC’s portfolio of IoT technology, including its ThingWorx IoT platform and accelerate the company’s entry into the Industrial IoT (IIoT).
Founded in 1995 and located in Portland, Maine, Kepware serves customers in more than 120 countries in industries such as manufacturing, oil and gas, building automation, and power and utilities. The company’s flagship product, KEPServerEX, connects disparate devices and control systems, providing users with a single source of industrial data.
According to PTC, the acquisition of Kepware will also provide a fast-to-value connectivity option for its customers to gain visibility into data from a vast range of industrial controls and production equipment, enabling them to kick-start their smart, connected factory initiatives.
Jim Heppelmann, President and CEO, PTC
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.
Tony Paine, CEO, Kepware
We believe this acquisition will benefit our customers, partners, and employees – and ultimately drive software innovation for industrial automation markets. We are excited for the opportunity to become part of PTC.
