PTC Acquires ThingWorx
Perspectives on the Acquisition
Technical VP of Solution Strategy, PTC Service Lifecycle Management Business Segment
NEEDHAM, MASS., December 30, 2013 – PTC (Nasdaq: PTC) today announced it has acquired ThingWorx, creators of an award-winning platform for building and running applications for the Internet of Things (IoT), for approximately $112 million, plus a possible earn-out of up to $18 million. The acquisition of ThingWorx positions PTC as a major player in the emerging Internet of Things era.
The ThingWorx acquisition extends PTC's strategy by accelerating its ability to support manufacturers seeking competitive advantage as they create and service smart, connected products. As part of PTC, ThingWorx will continue to help customers in a wide range of industries seeking to leverage the IoT, including telecommunications, utilities, medical devices, agriculture, and transportation, as well as an emerging partner network of IoT-enabled service providers.
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