Transaction will provide the Kepware and ThingWorx businesses with additional resources for growth.
PTC and TPG announced a definitive agreement under which TPG will acquire PTC’s Kepware industrial connectivity and ThingWorx Internet of Things (IoT) businesses.
The transaction would provide the businesses with additional capital and expertise to accelerate growth and further their leadership to meet the evolving connectivity and data needs of manufacturing organizations. TPG will invest in the businesses through TPG Capital, the firm’s U.S. and European private equity platform.
Kepware facilitates connectivity between industrial automation devices and applications, acting as a communication platform that enables data exchange and integration across a diverse range of industries including manufacturing, oil and gas, and utilities to simplify the process of collecting, monitoring, and controlling data from multiple sources. ThingWorx is a comprehensive IoT platform for industrial enterprises that connects systems, analyzes data, and enables the remote management of devices through a secure and scalable architecture.
The transaction is expected to close in the first half of calendar year 2026, subject to the satisfaction of regulatory approvals and other closing conditions.
Advisors
Centerview Partners is serving as exclusive financial advisor, and Simpson Thacher & Bartlett LLP and Choate Hall & Stewart LLP are serving as legal advisors to PTC in connection with the sale of the businesses to TPG.
Evercore is serving as lead financial advisor to TPG, and Barclays is also serving as financial advisor. Ropes & Gray LLP is serving as legal advisor to TPG.
For more information, visit ptc.com.
