Thursday, January 2, 2014

PTC Acquires ThingWorx, Internet of Things Platform Provider

By Vasudev Ram

Saw this via Twitter.

PTC (Parametric Technology Corporation) has acquired ThingWorkx, a platform provider for the Internet of Things (IoT), for $112 million.

PTC on Wikipedia.

This press release by PTC gives more details, including what they intend to do with the acquisition, and the scope of the opportunity they see, which is very large.

Excerpt from the press release:

[ NEEDHAM, MASS., December 30, 2013 - PTC (Nasdaq: PTC) today announced it has acquired ThingWorx, creators of an award-winning platform for building and running applications for the Internet of Things (IoT), for approximately $112 million, plus a possible earn-out of up to $18 million. The acquisition of ThingWorx positions PTC as a major player in the emerging Internet of Things era. ]

One point of interest is the use of the IoT for system monitoring. Since many more devices will have some intelligence (i.e. a processor built-in) and network access, monitoring systems comprising of many such "things" could be potentially easier and more scalable.

I had blogged about ThingWorkx a while ago, here:

ThingWorx is working on the Internet of Things.

As I said in that post, Rick Bullotta, the then CTO of ThingWorkx, was earlier a vice president with SAP Research in the areas of future manufacturing and the Internet of Things.

A GigaOm post about the acquisition:

PTC cozies up to the industrial internet of things, picks up ThingWorx for $112 million

- Vasudev Ram - Dancing Bison Enterprises

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