PTC to acquire Kepware for $100 million
Company's technologies help connect disparate devices and control systems.
PTC has signed a definitive agreement to acquire Kepware, a software development company that provides communications connectivity to industrial automation environments, for approximately $100 million.
The acquisition is intended to enhance PTC’s portfolio of Internet of Things (IoT) technology, and accelerate the company’s entry into the factory setting and Industrial IoT (IIoT).
Founded in 1995 and located in Portland, Maine, Kepware serves customers in more than 120 countries in such industries 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.
Kepware’s KEPServerEX will become a strategic component of the PTC ThingWorx IoT technology platform. Once the companies’ products are integrated, machine data will be able to be aggregated into the PTC ThingWorx platform, integrated with a wide array of internal and external information, and then automatically analyzed using ThingWorx machine learning capabilities. The integration will allow organizations to gain enterprise-wide insight and to proactively optimize mission-critical processes.
“PTC is committed to helping manufacturers, infrastructure operators, and others realize the enormous value inherent in the Internet of Things,” said 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.”
“Kepware and PTC share a common vision of helping organizations realize the potential of the Industrial Internet of Things,” said 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.”
Over the past 12 months, privately-held Kepware generated approximately $20 million in revenue.
