PTC bags Kepware

$100 million ‘internet of things’ deal sees Mathcad developer hook up with process control data aggregation boutique.

Needham, MA-headquartered Parametric Technology Corp. (PTC) is to acquire Kepware Technologies, a process data aggregation specialist whose flagship Kepserver has been deployed on several high-end oil and gas developments including the Queensland Curtis LNG export terminal.

PTC is a software house with a significant oil country presence via its Windchill design tools and Mathcad engineering package (Oil ITJ Nov 2010). Both companies are targeting the Internet of things movement: Kepware with its industrial data forwarder for Splunk plug-in and PTC the ThingWorx platform.

The acquisition will see Kepware’s products integrate the ThingWorx machine learning platform which is, inter alia, a component of GE’s ‘brilliant manufacturing’ program. PTC is paying approx. $100 million for Kepware plus up to $18 million contingent on future ‘strategic initiatives and financial results.’ Privately held Kepware’s 2015 revenue was approx. $20 million. Childs Advisory Partners acted as financial advisor to PTC. More from PTC.

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