Software development company acquired
PTC has signed an agreement to acquire Kepware for $100 million as the company looks to enhance their Internet of Things (IoT) portfolio and accelerate the company's entry into the factory setting.
PTC (NASDAQ: PTC) announced it has signed a definitive agreement to acquire Kepware, a software development company that provides communications connectivity to industrial automation environments, for $100 million with an additional $18 million based on the achievement of certain strategic initiatives and financial results. 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 the Industrial IoT (IIoT).
Kepware, which was founded in 1995 and located in Portland, Maine, 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, is designed to connect disparate devices and control systems and provide users with a single source of industrial data.
Kepware’s KEPServerEX is intended to become integrated with PTC's ThingWorx IoT technology platform. The integration is intended to allow organizations to gain enterprise-wide insight and to optimize mission-critical processes for improved operational performance.
The acquisition is also intended to provide a fast-to-value connectivity option for PTC customers to gain visibility into data from a vast range of industrial controls and production equipment. PTC also intends on maintaining the Kepware partner ecosystem and to continue developing and enhancing the Kepware technology once the acquisition is completed.
- Edited by Chris Vavra, production editor, CFE Media, from PTC and Kepware information. See more Control Engineering industrial networking stories.