PTC is borrowing to finance the transaction, which is expected to close in early 2016.
PTC posted a $62.1 million profit on $1.25 billion in revenue in fiscal 2015. Kepware generated $20 million in revenue over the past 12 months, PTC said. PTC is paying approximately $100 million for Kepware up front, with an additional $18 million on the table if certain “strategic initiatives and financial results” are achieved. PTC intends to analyze that data and help customers boost their operational performance. With Kepware, PTC grabs software that “connects disparate devices and control systems, providing users with a single source of industrial data,” the press release said. PTC has said it intends to use Vuforia’s technology to help design, monitor, and control products. Other recent efforts in this transformation include the $65 million acquisition in October of Vuforia, Qualcomm’s vision-based augmented reality technology. The intern will be involved in helping a seasoned team member with gathering and.
PTC has traditionally focused on developing 2-D and 3-D product design software and services to manage those products, but the company has lately been emphasizing its role in the development of Internet of Things products and services. A Kepware Renewal Sales intern will collaborate with PTC employees on improving sales methodology and customer engagement through the sharing of ideas, mining of SFDC information, and participation in cross team discussion on how to target specific accounts. It has customers in more than 120 countries in sectors like manufacturing, oil and gas, building automation, and utilities, according to a press release. Kepware, a 20-year-old company based in Portland, ME, develops software that helps connect devices used in industrial automation.
The deal announced today gives Needham, MA-based PTC (NASDAQ: PTC) a foothold in factories worldwide. New England software company PTC continued its shift into providing backbone technology for the “Internet of Things” with a $100 million-plus acquisition of Kepware.