NEEDHAM, Mass. – February 1, 2018 –– PTC (NASDAQ: PTC) today announced that Colfax Corporation (“Colfax”), a globally recognized manufacturing and engineering technology company, has selected the ThingWorx® Industrial Innovation Platform powered by Microsoft Azure to align its Internet of Things (IoT) efforts and increase the pace of development.
Colfax Corporation is a leading diversified industrial technology company that provides air and gas handling and fabrication technology products and services to customers around the world under the highly-recognized Howden and ESAB brands.
Building on its Colfax Business System (CBS) and culture of continuous improvement, Colfax has launched a major digital transformation effort recognized as Data Driven Advantage (DDA). Colfax has selected the ThingWorx platform to increase efficiencies and accelerate progress across its development teams, leveraging ThingWorx and Colfax’s application expertise to bring new products to market more rapidly and enhance service levels.
“Empowering our business platforms with greater transformational digital capabilities is integral to our growth strategy,” said Ryan Cahalane, vice president, Digital Growth, Colfax. “ThingWorx not only supports our existing businesses, but also can contribute to more rapid integration of acquisitions. With ThingWorx and Microsoft Azure IoT, we can focus more on what we do best and improve customer experiences.”
Recognizing the importance of the cloud for enterprise IoT, Colfax selected a proven platform that could support industry leading cloud offerings and serve as the foundation of their IoT initiatives today and in the future. ThingWorx, combined with Microsoft Azure IoT, will allow Colfax to fully leverage its existing Azure investment, unlock unprecedented value, and quickly grow and scale its operations. Azure IoT offers a rich set of built-in connectivity and device security features, enabling reliable and secure bidirectional communication between millions of IoT devices.
“ThingWorx, combined with Microsoft Azure IoT, provides Colfax with a complete IoT platform that can handle everything from connecting critical devices, to building applications, to analyzing invaluable operational data,” said Jim Heppelmann, president and CEO, PTC. “This will enable Colfax to transform the way they service and support their products, and we look forward to helping them succeed.”
The announcement of a customer’s selection of PTC software is not necessarily indicative of the timing of recognition of related revenue or the amount of revenue for any particular period or that any related applicable implementation and deployment activities are complete.
PTC helps companies around the world reinvent the way they design, manufacture, operate, and service things in and for a smart, connected world. In 1986 we revolutionized digital 3D design, and in 1998 were first to market with Internet-based product lifecycle management. Today, our leading industrial innovation platform and field-proven solutions enable you to unlock value at the convergence of the physical and digital worlds. With PTC, manufacturers and an ecosystem of partners and developers can capitalize on the promise of the Internet of Things and augmented reality technology today and drive the future of innovation.
PTC, ThingWorx, and the PTC logo are trademarks or registered trademarks of PTC Inc. or its subsidiaries in the United States and other countries.