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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