They gave it their best shot, but now it’s time to focus on another tech trend.
You’re reading Engineering Paper, and here’s the latest design and simulation software news.
PTC has announced that it’s selling Kepware and ThingWorx, its brands for industrial connectivity and Internet of Things (IoT) software, to asset management firm TPG.
You might find this news surprising. PTC has long been bullish on those brands, particularly ThingWorx, which it bought in 2013 for approximately $112 million. The company even adapted the brand name for its erstwhile annual user conference, PTC LiveWorx, the last of which was in 2023.
ThingWorx was the first of several acquisitions for an IoT strategy that would cost PTC half a billion dollars over the next few years. PTC bought Kepware in 2015 for over $100M, machine connectivity provider Axeda in 2014 for $170M, and big data platform Coldlight in 2015 for $105M.
Industry watchers at the time noted the gamble PTC was taking on IoT. In 2015, Engineering.com contributor Verdi Ogewell asked: Is PTC’s CEO Jim Heppelmann Playing with Fire? to which the then-CEO replied: “[W]e are confident, and our customers agree, that not only is IoT an exciting new opportunity, but it will also reset expectations in the arenas of CAD, PLM, ALM [applications lifecycle management] and SLM [service lifecycle management].”
Ten years later, however, Heppelmann was gone (replaced by Neil Barua) and the IoT shine was starting to wear off. This summer a rumor was swirling that PTC might be acquired by Autodesk, and writing about that possibility, Engineering.com contributor Lionel Grealou noted that “ThingWorx and Kepware, once central to PTC’s digital transformation narrative, now appear most vulnerable to divestment.”
The Autodesk rumor went nowhere, but ThingWorx and Kepware have indeed gone somewhere. TPG and PTC didn’t disclose the terms of the acquisition, but they expect the transaction to close in the first half of 2026.
“We’re pleased to reach this agreement with TPG as we increase our focus on delivering our Intelligent Product Lifecycle vision for customers through our core CAD, PLM, ALM, and SLM offerings and the ongoing adoption of AI and SaaS,” Barua said in the joint press release.
Let’s check back in ten years to see how the AI play pays off. Speaking of…
Tech Soft 3D launches HOOPS AI for CAD machine learning
Engineering software development kit (SDK) provider Tech Soft 3D has launched HOOPS AI, a new tool that it says is “purpose-built to unlock AI and machine learning for CAD data.”
According to Tech Soft 3D, HOOPS AI is an end-to-end solution for CAD-based machine learning. It ingests and prepares CAD data, provides pre-built neural architectures for CAD tasks like feature recognition, and has built in visualization tools, among other features. It’s a standalone product that incorporates features from Tech Soft 3D’s HOOPS Exchange (for CAD data translation) and HOOPS Visualize (for CAD rendering).
“HOOPS AI represents a major leap forward for organizations looking to finally harness artificial intelligence for 3D CAD,” said Gavin Bridgeman, CTO of Tech Soft 3D, in the company’s press release. “It provides a complete, reproducible pipeline that makes machine learning workflows with CAD data both practical and scalable.”
Quick hits
- Chaos has released Vantage 3, the latest update to its real-time visualization platform for AEC. The update adds support for USD, MaterialX, and Gaussian splatting, as well as a new camera tracking features, a new material editor, extended texture support, and more.
- Siemens has introduced Electrical Designer for its TIA Selection Tool Cloud. The new feature aims to simplify main circuit design by automatically selecting components, verifying short circuits, sizing cables, and creating documentation, all in accordance with IEC standards, according to Siemens.
- Celus, a developer of AI-based electronics design software, and NextPCB, a PCB manufacturer, have announced a strategic partnership that will allow NextPCB customers access to the Celus Design Platform.
One last link
Who figured software licensing could be such a dynamic topic? Here’s Lionel Grealou again with From seats to outcomes: rethinking engineering software licensing.
Engineering Paper will be off for the next two weeks. See you in December.
Got news, tips, comments, or complaints? Send them my way: [email protected].
