PTC Sells Kepware and ThingWorx Businesses to TPG for Focus on Intelligent Product Lifecycle

PTC is selling its Kepware and ThingWorx businesses to TPG, a leading global alternative asset management firm. The transaction will provide the businesses with additional resources for growth and help PTC focus on its Intelligent Product Lifecycle vision. Kepware facilitates industrial connectivity and ThingWorx is an IoT platform for industrial enterprises. TPG will invest in the businesses to accelerate growth and meet evolving connectivity and data needs of manufacturing organizations.